Join our CPERN Online Workshop about Inga Rademacher’s working paper!
When: Thursday, 29 January 2026, 5pm UK time
Where: zoom link tbd
Speaker
Inga Rademacher is interested in the varieties of neoliberalism. It explores the critical juncture in the fiscal, monetary and financial spheres in advanced market economies in the 1980s. While much of the literature stresses strategies of states and economic agents, Inga’s research focuses on the different interests, strategies and conflicts within the state. It finds that the rise of austerity and global finance resulted from a power struggle between central bankers and governments which had different domestic outcomes depending on the distribution of institutional power between these two spheres.
Discussants
Owen Worth: Professor and Head of the Department of Politics and Public Administration, University of Limerick
Alen Toplisek: Senior Lecturer in Global Affairs and Politics, University of Derby
Abstract
Why does the far right thrive precisely in those times when finance is most developed, volatile, and globalized? Scholars have long been interested in this question but have predominantly focused on voter behavior—instead of policies—while largely overlooking radical changes in global financial markets, notably the emergence of asset-manager capitalism since the 1990s. This study presents a dataset detailing far-right policy intentions in the realm of finance in nine advanced market economies (2010-2024). It demonstrates striking cross-country variation in financial nationalism, from which three distinct regimes can be identified: credit-market cyclers (in Greece, Italy and France) seek to anchor credit in the domestic economy through state interventionism; capital-market cyclers (in Germany, Austria and the Netherlands) pursue capital-market expansion through largely liberal policies; and asset-manager globalists (in the US, UK and Switzerland) seek to deepen international financial integration through a fully market-liberal model. Three case studies illustrate that the rise of asset-manager capitalism critically shaped these regimes: in some, financial extractivism instigated a nationalist backlash against foreign ownership and intrusion into domestic corporate governance; in others, it was embraced as a source of rentier power and national advantage.
See you there!
Critical Political Economy Research Network (RN06) 