The Rise and Fall of the Neoliberal Order: America and the World in the Free Market Era

The Rise and Fall of the Neoliberal Order examines the emergence, dominance, and potential decline of free market ideology in American politics and society from the 1940s to the present. Historian Gary Gerstle traces how neoliberalism transformed from a fringe movement to the dominant political-economic paradigm that shaped both Republican and Democratic policies. The book charts the parallel decline of the New Deal order and rise of market-oriented philosophies through key historical moments and policy shifts. Gerstle analyzes how neoliberal ideas spread beyond economics into social policy, foreign relations, and American culture at large between the 1970s and 2008 financial crisis. Through extensive research and historical analysis, Gerstle explores the complex relationship between free market principles and traditional conservative values in American politics. His work provides context for understanding current political and economic tensions as the neoliberal consensus faces mounting challenges from both left and right. This sweeping history reveals how economic ideologies can reshape entire societies and suggests broader patterns in how political-economic orders rise, consolidate power, and eventually give way to new systems. The book offers insights into current debates about inequality, globalization, and the future of American capitalism.

Readers value the book's clear explanation of how neoliberalism shaped both Republican and Democratic policies from 1970-2020. Many note the detailed analysis of economic shifts and policy changes across multiple presidencies. Positive reviews highlight: - Clear writing style accessible to non-academics - Strong historical examples and evidence - Balanced treatment of both political parties - Connection between economic and cultural changes Common criticisms: - Too much focus on US vs global perspective - Limited discussion of alternatives to neoliberalism - Some repetition in later chapters Ratings: Goodreads: 4.29/5 (156 ratings) Amazon: 4.5/5 (92 ratings) Notable reader comment: "Explains complex economic policies without getting bogged down in jargon" - Goodreads review Another reader noted: "Would have benefited from more international comparison, especially with UK and European shifts toward market economies" - Amazon review

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🔷 Author Gary Gerstle is a distinguished professor at the University of Cambridge and previously taught at Princeton University, where he helped establish the university's Center for the Study of Democratic Politics. 🔷 The book argues that neoliberalism was not just an economic philosophy but a complete political and cultural order, similar in scope and influence to the New Deal order that preceded it. 🔷 The rise of neoliberalism crossed traditional party lines, with both Republican Ronald Reagan and Democrat Bill Clinton embracing many of its core principles during their presidencies. 🔷 The book identifies 2008 as the crucial year when the neoliberal order began to crumble, marked by the global financial crisis and subsequent Wall Street bailouts that undermined public faith in free market principles. 🔷 "The Rise and Fall of the Neoliberal Order" won the 2023 Bancroft Prize, one of the most prestigious honors in American history writing.