Always embedded neoliberalism and the global financial crisis

The global financial crisis, precipitated by the collapse of the U.S. sub-prime housing market in 2007, has focussed both scholarly and popular attention on neoliberalism and its future. One common narrative to emerge in this context is that the crisis heralds the end of neoliberal hegemony. Commentators who make this argument typically contend that the crisis demonstrates fundamental flaws in the neoliberal economic model, and that the “return to regulation” in the wake of the crisis sounds the death knell for neoliberalism.