The Comparative Economics of Neo-Illiberalism

Abstract

This essay aims to provide an explicitly economistic explanation for the astonishing spread of economic illiberalism in the twenty-first century. Given that the twentieth century was largely a period of economic planning of various sorts, which ended in conspicuous failure, the revival of statism and micro-management of economic affairs in many—if not most—parts of the globe cries out for explanation. The paper explores why and how this trend has re-emerged and solidified in a large number of countries, their diverse factor endowments, historical legacies, cultural backgrounds, and political institutions notwithstanding. The trend has ideational as well as materialistic roots.