[N]eoliberals were less interested in markets per se (and even less in market competition) than in what could be achieved through them. Though neoliberals usually aim to eliminate any state intervention that interferes with the free decisions of private enterprise, they are not opposed to all forms of state intervention. Neoliberals are, of course, less concerned with forms of state intervention that redistribute to core business groups (through generous tax exemptions or massive bailouts during financial crises) than they are with the kind of intervention that mandates redistributive measures for the working class. Similarly, neoliberals vow to extend markets and market logics to all forms of social and political life but are less concerned if this ends up leading to unfair competition or outright monopoly.

Second, it is now well understood that neoliberals need strong states to impose — and enforce — their free markets, even if it takes the form of outright repressive state measures.

Neoliberalism, then, is much more than just a set of ideas about free markets. It’s a political project that aims not only to reduce the power of the state but, more concretely, to undermine the efforts of any collective actor — be it states, labor unions, political parties — to interfere with the decisions of private enterprises. This project to alter the balance of power is the key to its resilience.

On redistribution of wealth.