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Coming to terms with the market: accounts of neoliberal failure and rehabilitation on the British Right

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Abstract

Critique of “neoliberalism” is generally thought of as a preoccupation of the political Left. Here it will be argued that the British Right has also been developing a distinctive critique of neoliberalism and its failure, whether they thought about it in these precise terms or not. This represented an attempt by Conservative intellectuals to grapple with the enduring legacy of Thatcherism in the party. The objectives of this paper are threefold. Firstly, it will examine the contours of a distinctively Conservative description of neoliberal society by drawing on the work of Jesse Norman. Secondly, it will explain and contextualise their account of neoliberal economic failure and a possible avenue to its rehabilitation. And, thirdly, it will explain why this rehabilitation was itself a failure through a critique of Norman’s attempts to read Hayek through Burke. It concludes by observing that what civic forms of conservatism fail to offer is a thoroughgoing examination of functions that markets are unable to perform.
This is a pre-print version of an article published in British Politics.
Please cite: 
 !"
#$$$%%&'$(%)*++%(%+)
Coming to terms with the market: accounts of neoliberal
failure and rehabilitation on the British Right
Abstract
,-./##
#0 !
1#1,
/##
#/11##/
  #/  21   ##
3/      4          1/  11
#//56
7/      4#    4        
#18/
4#/,
6" #   /   9  /
1      1      1      :    
  4              
#
Keywords: Conservatism; neoliberalism; Big Society; Red Toryism
Introduction
,   /    # 0
;<%(1
"=
###/
%
/#>?%
##/
0/!1

9/      
#      /    @  ##/  <1  =  5
6 ?#     4 !  1
# 7/!/
            9  1        
/1A#/:
11?/1# 4
  7/   #  ##    
#        11  ?/      
#/#//;
1/B%&
  /"    4        1    +
11
#/4#,
7/81/
#                      
# ; /  01%C 7
%C=%*C<1%(;
114#
1  #            
>+"
++#
#/=%*
 #   +/  4>" 
#>1
11?/
#1/##/
1#2 
7/  5# %&       +  #  
  1   
      /  >    ,  /      1/
>  1                    
#/ 1 #/
<1%%CB %C D/ %&C 7 5
%&
#
/#/#111+
# 7/
 /       #2   2
#
"  /      11  ?/      #
4#                 #      
/#"E 1
4#
 7/#4
##/
#1<
1%(C1%)
6# 7/2
#/#/#1,
#/9/##
/ 5 6  ?#      # 
##1
#          21      A
/    11  ?/     11
;%'#)4#
*
=1=2
      >  1  =      1
2,/F
GH  1          /  
/C2/
1    C    #          
F
7        1              
11;%)1#"
        #/      #      
11?/I>
569
2##
 7/  ! /    #>   /
/#/#1
I>//
,//
941/
,#+
,J
21##3/4
1/11 # /
/      5 67/   4# 
4#
1        8  /      4#  /  
,6"#
/ 
The politics of the Big Society
7 1         7/ 
1/9%##/#
(
2/   6 %%C  %%C / 3
  D  %C      =  %*C      1/  +
  #        #  #    
   11 ?/7 %C ## %*C
D /%&C/ %KC*  #6
0"=/"#01%C<
%&C( +#/ #  
:<1%(C0%&C1%)
9##/
2###
1###
  "     
      /"          2  /  <1
&/"
2       " ;    1 
11?/ /  +  
###2###</
B%CB%&;1#+
4>1# 7/
        ;2  1      6  0
 :  " /  11  1
###1//01%C
5#%&
 / 11 # # 
##
 7/</B%#1/ 
 #2    %)I D/>   #/
<<1=L10
    /      #2          
E#<
 7/  #   
&
11
1/)
1 1     /  
7/     <1 3/ ##
#/1##1
  #      1  ##      #    
/      ,  #/      7/
"##11?/#
##1>
    #/    #    4>"  /  ##  %(
/#//
/11#
    E#  ?#"  ?/      E#  ?    
4 1#1 
//%4#&
 4    7/   >/ /  I
>  9   /      +
   #      7/ 
  ,  
"   #/ 1  6" I 
              %  ?# "
%4,

I
 7/#/#111
#  #/ #
1//8/
11>
11?/#/ 
7//1
K
/#/"2#
1#/%%C /
3    D  %C  D    /  %&  ;1    
##/#+/
#1B %&#(I
/#MA##
# 7/,/
#1#M
;/ 7/#2
#/#
#99
/ :#/
# 7/
/#9
     7/ #2      
      #  # 
#/#
#9#56
# ##/ ?#  
6/#
<1"# 
       7/   
/              /  
#6949
 7/      "   
1    # 1 
#
 #"//
#                    
,/#/
'
    #+# 11 
##
A three-way relation between individuals, institutions
and the state’: society according to conservative
thinkers
 / 4   6    ##
!/
+16BK#
A
#+    / #  :
+11/#/
#            4      ,    
#1
2    +    #/      ,    6/
    1                 
11 ?/ 6   / ,  ,
11
/  " #"   %)   7/  !
/    #  ,    
#/
#   7/#N+
/1"6
B K#('# >#
11  #1//##
3##1
,#%6
#2;"
%>#;
2//2/"##
#
+
I
            /"           
>  #      11        
>    #    #        
#/E 
  ;  L          4#>  /  3
/
9=/+#N11
# 11 7/ 
##1/ 
4#GH1/#
  1          #      
"      GH  +    
1  +  + 
" %##'%(8
 0 ?/        ;
B" 0"7%
36 #/
#/ +   
  /    +    "    /
       2   
%6"A/3"
 0 ?/     /  
#       N 9 
O/ 6       # 
1/17
7%)II
    #    1  
?/ 11 ?/  1
;
)
    /          /  #/
/ #
1            +  
,        1  ##    
#  /     
%#%I
6/1
##11/#
4#
1          1  9    
6BL   #="9    
N1#1##1
#/#"
,6
 O /  #/
#1 6?
;/0 
11#/%)I%))6I#'K
3 /"
 >          
  -+.  #  "  
% # %)& 6"  ##  # ## 
  / 
 7/1/ 4
 >/=6
    1    # 
##
814
1    #/  #      7        
/      #        /    
="9C
%
/C/
  /              6  
BK#(KC6%#%K
6"   " #/   
11
        7    /    1
##7D)
Rigor Mortis economics’ and the (nancial crisis
  7/  #>   #  
11/
#%)'I
>    6      1    /      
  3/    
/  ;  3      #      /

  1    #  6    ;  3    #
    5   ##   
       +        
                   
87
##1!
###
7 457 ;
##
#///


 /  7  ;    7/ #  
 /
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1/11
/1 N 
           #    /    #
  "    1
  #> #  4 
,/,/41
 #"  /     %))) # %) 
6             #    /    
  7          1  ##/  #
# 1/1     

  # /    
2>1
   # # 1
6I#K%##&&@&K
      6            
7#///
 #    
#1/
?+/ 11  / 
        1 
/  4  / ;  
  /   1  
 @ 
/  1  @          ##/    
1#/#
/6%#%I(
8 
=  1  #  / /   
  #          1  /    
  11    3  /      
%
/  @      ;  3"    N+
1  #  A#
# %##**@*(
9                     /
1/#/:
#      /  

 7/">#
=    >    1            
    "      #    /
/16/
1/
            3      4#
1#1
   +  ;1   
/#

6     #    
"  6 0   1 4#  +
##/4
            /    
N  #    /
   " ,  # 1 
7/    2            #  
#  "    ,>    #  1    
6  %  #  '  ;1  6          
,#
N#/###
2#1
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/6"
/60"#1
                 #  #   /
/ E1   
/   #  11 
  #    /  6"  ,    #  
,>1/3 
  /"  #    #             #4
###/#
#1/#/"
#//# #  
# 
/ #   %* /"   # 1
1    ,    #  /    #      
/#4,1
        /        ?    
      1  #    # #4/    
#1
#
;1 #/ # # / 6
1  #/ ,
11"A#37#/4#
#/74##/
3  E4/   %%   
//=% 7/
#PD"
#/ "
 2    7/   #  
      1/  11          @
 /    ?#  @     # 
            /  6  #1  
%(
1!,7#
/I9
#1#/
/4#4
Neoliberal relapse: The failure to read Hayek through
Burke
    
564
?#  6",  7 #
/1/     2
#/
,112
##
##14
/  #            
+#E 9
/>6"/
#>O
        #  ##    / :

/## 7/
    # #2   1/
4#1/ /
#816:#
    /  1++          
,#     3
     #1    
I>/
1#
//
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#>#1

#     
11      /  /      
9   " #  
,          >   6    /
2              #/ "  1   
#/    #1        +    11
              #    #    
###/
49#
2/

8/#
##1//
11//"
  1   #  # # 
 ##    # /  /  
##  ?  %  ?#  /"    #    
/4/"/%)(&%*
#      /"
      /    #/    /    1
#    #/        #/    
#4/1/
#////
#//F
              2  #/
#    1    1  /      
#                #
##11#/%)(&
#&K
%K
#/#1
    #  #          #  
    1      #          
#/1##2#/
1#/
:1/
!  ! #  #/   /

!# /##1
        7
    %'C  =/  %)  =      
    #          !    #  
/=B
  5  %% 9  /"        1  #    
#= /1
#1
9  7/3 #
5 6
//####/
2    #   #/
  /        ;1      
/      #    ##/    
#/#2 
  1  /    1  1  
          /        +
11?/
3  6  / 2 / #  
/   2    #  / 2
=$=B$
=B"
%'
/#/1#/
/229
1# 
/11
##/##
1//#>
 /" /  1  
6"              1  #
###
/    /  1    ##  1  /    2
#/  9          1    A
14#+#
#/#
/  /    1/ #    
/
#>/O/
#/
#
          1    #    
#/K#%
6"#  /   
#1
111
      1  6    /    
/
/="9"
7#>/
##1
/""#
%I
//1#/ 1#
1 # # 
/>/#/
      #      #      /  
/##4
          4  /"  
:6"
1              
1/ #   ;+++  
#4#/"
"/%)(&#&K
/  #    A/   4# / 8
7" E "    
    E1  /        7          
      #/    #    4   1/
/
8#41
141/
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47I#'
7,/#
  #                  
     /    4 
#" 1/1
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  6"                    
4   #  
714
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/1
/37
6"
                
1N      /#  7  #        
          C    #  4    
1 C /   #+4
//
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N 8
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        /" B
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/## (#%)&
= #11/
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  "#/         
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#
#1##/
+    5 %K # () 9
#/ #
##/"//
#  / 
##/
   /  / # #     
1
#//6/9#
#/1

1  /  /"              
#/:6"

  # 9 /

        1        
#/9/
              /      1  
          //    /
/1
 #  #     
1#/
#16"# 
// 
3/6"##
#              #      
     1 /   /
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  >/  #  /
 4    ##/ / 
1
/##C
/1#
111#1#/##
2#3##111
?/ 4#
#1/11#/
        ##            
1 # 1  ?/" #   
A         #  #           
#
Conclusion
  >      I      #      
    /   7/
#:,
   1    
17/
O//9#
/,#
11?/>/
41/11
#/C4#4
#/ 7/!/
    /  /  5  6      :    #
#/
 9#4#
111?///

 7/#

11       
              7        
/#1
    1+  1  1  #  
1/  ,      
1
#  11 ?// 
/"  ;1          #      
/1 /

6"#/
 :1/   1 /  / 
/1"
              9        #
/ / 7/
!  /  #      #    /  A  
# #   #/    / 
:1/1I>
  ,       
##/
#1/:/1
/1#6
" #      / 
/##/#,/
              +  /    
11?/#
#, /
1#1# 7//"
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+11/##
#16
18/#/
#A/+#
#/##4
  /              
    11 ?/  / 
#1
            +1          
:1/O/
Word Count: 8,106
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 Q *     9# 0/
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... In this respect the 2010 Manifesto was more reminiscent of the 2001 and 2005 platforms than the consumer choice core of the policy or even the 'Big Society' agenda on which other elements of coalition-era social policy would be based (Gibson, 2015;Harvie, 2019;Hoctor, 2021a). Key themes were falling academic standards, violence in the classroom; poor discipline and teacher training practices. ...
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... (Dorey and Garnett, 2012) 4(Hoctor, 2020) ...
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