The Ezra Klein Show

“Neoliberalism” is one of the most confusing phrases in political discourse today. The term is often used to describe the market fundamentalism of thinkers like Milton Friedman and Frederich Hayek or politicians like Ronald Reagan and Margaret Thatcher. At the same time, critics often place more progressive figures like Bill Clinton, Barack Obama, and even Elizabeth Warren under the neoliberal banner. This raises an important question: what the hell is neoliberalism? I decided to bring on two guests today to help us answer that question. Wendy Brown is a professor of political theory at UC Berkeley, author of Undoing the Demos and In the Ruins of Neoliberalism, and one of the foremost critics of neoliberalism, not only as a set of economic policies but a “governing rationality” that infects almost all aspects of our existence. Noah Smith is an economist, a columnist at Bloomberg, and is known for his robust defenses of some (though not all) neoliberal positions, which earned him the prestigious title of Chief