TARP was framed as market construction, mirroring emissions-trading as a neoliberal instrument.

Evidence

The promotion of denialism may have bought time, but only subordinate to the bringing into play of the replacement middle-term policy response of the market-based rescue of the banks covered in chapter 5. In the case of global warming, the medium-term instrumentality was to have the state construct new markets for emissions permits. Interestingly, as described in above, during the crisis a very close analogue was also floated to create new markets to sell off the so-called toxic assets that the government would “temporarily” take off the balance sheets of the faltering banks. Market designers were initially brought in to help concoct boutique auctions to somehow actualize and validate the ramshackle expedient of the TARP. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 943

Categorization

• XREF: Draws an explicit parallel between climate market construction and banking rescue — both use state-created markets as the middle-term neoliberal instrument. — connects to: Neoliberalism is a governing rationality that frames all life in market terms — Wendy Brown, Undoing the Demos: Neoliberalism’s…, 357; Neoliberalism rebranded itself through property-titling antipoverty programs. — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 164; The economy functions as model, object, and project of neoliberal state rationality. — Wendy Brown, Undoing the Demos: Neoliberalism’s…, 107

Broader Connections

• Neoliberalism is a governing rationality that frames all life in market terms #exemplifies (0.75) — Wendy Brown, Undoing the Demos, 357
• The economy functions as model, object, and project of neoliberal state rationality. #exemplifies (0.75) — Wendy Brown, Undoing the Demos, 107
• Neoliberalism rebranded itself through property-titling antipoverty programs. #exemplifies (0.70) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 164