The Global Political Economy of Education in the 21st Century

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review


The economic crisis’ of the1970’s saw a move from the interventionist politics of Keynesianism and a resurgence of free market approaches to solve the economic problems of the decade. This move towards more free market policies is described by many critical commentators as neoliberalism but was in fact different from the economic forms of neoliberalism which emerged during the early 1930’s with the socially conscious free market ideas of the Ordoliberalist school. During the 1930’s Keynesian demand side economics promoted borrowing and state intervention to stimulated growth. This gained political ascendancy in many western economies to remedy the problems caused by the Great depression of 1929. However during the 1930’s Ordoliberalist ideas were adopted by the influential Mont Pelarin Group and Chicago School economists began to formulate ideas of a return to more liberal free trade approach. This was the first wave of neoliberalism. While Keynesianism remained the dominant political economy approach for many years a ‘new’ neoliberalist approach to the political economy began to appear During the late 1970’s and early 1980’s which began to return political economies to forms of classical liberalism and free market ideals sometime with the social conscience of the of Ordoliberalists and sometimes without
Original languageEnglish
Title of host publicationSociology for Education Studies
EditorsStephen Ward, Cath Simon
Place of PublicationLondon
Number of pages33
ISBN (Electronic)9780429397585
Publication statusPublished - 2 Dec 2020


  • Political
  • Economy
  • 21st Century
  • Education
  • Global


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