ERC Starting Grant · 2025
A Global Consensus? The Contested History of Structural Adjustment in the Age of Shock
The history of the late 20th century international political economy – from the 1973 oil crisis to the fall of the Iron Curtain in 1989 – is often told as a succession of shocks. It has been argued that the resulting disorientation allowed for the global imposition of “structural adjustment”: policies favoring the removal of state regulations and subsidies, the privatization of public assets and services, and the liberalization of trade and foreign investment – “neoliberal globalization” to some. Others argue that there was simply no alternative to these policies because of economic constraints at the time. Accepting neither the imposition nor the no-alternative thesis, ShockAge posits that…
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