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The anti-democratic logic of right-wing populism and neoliberal market-fundamentalism

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  • Ötsch, Walter
  • Pühringer, Stephan

Abstract

The paper compares neoliberal market-fundamentalism and right-wing populism on the basis of its core patterns of thinking and reasoning. Based on an analysis of the work of important founders of market fundamental economic thinking (particularly Mises, and Hayek) and the arguments brought forward by leading right-wing populist we find highlight conceptual resemblances of these two approaches: Both show a world that is split into only two countervailing parts. Right-wing populism shows a society split into two groups, fighting against each other. In a similar vein, neoliberal market-fundamentalism shows only two possible countervailing economic and societal orders. Thus, we develop a scheme of the similar dual social worlds of right-wing-populism and market-fundamentalism and offer some examples in the history of the Republican Party, where these concepts mutually reinforced each other or served as a gateway for each other. The main conclusion of the paper is that neoliberal market-fundamentalism and right-wing populism can be perceived as two mutually reinforcing and radicalizing threats to democracy in the 21st century.

Suggested Citation

  • Ötsch, Walter & Pühringer, Stephan, 2019. "The anti-democratic logic of right-wing populism and neoliberal market-fundamentalism," Working Paper Serie des Instituts für Ökonomie Ök-48, Hochschule für Gesellschaftsgestaltung (HfGG), Institut für Ökonomie.
    • Handle: RePEc:zbw:cuswps:oek48
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    References listed on IDEAS

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    More about this item

    Keywords

    Right-wing populism; market-fundamentalism; inner images; Donald Trump; patterns of thinking;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other

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