Capture theory frames neoliberalism as the political power of economic power

Evidence

A second form of scholarly explanation, favored in the field of International Political Economy, uses the language of capture. Critics from both sides of the political spectrum use this category to criticize the current global IP regime. Here special interests, usually the wealthiest sectors of society—but also specific industry interest groups, nations, or even individuals such as Charles and David Koch—capture policy through proactive lobbying efforts. The think tank is part of the story but in a supplemental role. Against the political power of economic ideas, this could be called the political power of economic power. — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 203

Categorization

• DEFINE: Defines the second explanatory mode — capture/class-power — as distinct from the ideational frame, a key fault line in how analysts (and the reader) map the field.
• XREF: Directly serves the reader’s goal of mapping internal varieties among ‘neoliberalism’ analyses — the capture vs. ideas distinction is a live methodological debate. — connects to: Neoliberalism means capital seizes biopolitical governance from the state — Max Haiven, Cultures of Financialization, 263; Neoliberalism advanced a political, not merely economic, case for the competitive market — Jessica Whyte, The Morals of the Market: Human Rights…, 34; Neoliberalism’s legal framing unified economists and corporate managers — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 282 (+2 more)

Broader Connections

• Neoliberalism advanced a political, not merely economic, case for the competitive market #corroborates (0.75) — Jessica Whyte, The Morals of the Market, 34