Making the world open again. The US State Department's thwarted first steps towards global neoliberalization during the Great Depression and World War II

Abstract

Given that neoliberal rationality implies the economic opening of state spaces in a borderless global market, this article proposes a critical reassessment of the origins of actually existing neoliberalism, with the twofold aim of addressing the empirical shortcomings of the conventional narrative and specifying the conditions of the emergence of neoliberalization. The present authors demonstrate how the US Department of State implemented a foreign economic policy between 1933 and 1947 which constituted one of the first neoliberal experiments of the twentieth century, engendering the hotbed of transatlantic neoliberalization which unfolded, albeit incompletely, in the following decades. This revisitation of the origins of neoliberalization has, in turn, enabled a theoretical reframing of the neoliberal spatiality, intersecting multiple stream framework analysis and the neo-institutionalist approach, in order to highlight the complexity of the factors responsible for the emergence of political neoliberalism in the context of the global crisis of the 1930s and 1940s.