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Anyone advocating neoliberal policies is now persona non grata in Washington, D.C.

The many contradictory interpretations of neoliberalism raise doubts about the value of this concept. This article discusses the literature on neoliberalism for identifying a "minimum common core" that warrants preserving this concept. I argue that neoliberalism entails an ideology and a political practice that aim to subordinate the state and all social domains to the market—to its logic and to the economic powers within it—thereby undermining democracy. This conceptualization emerges as a "common lowest denominator" among many otherwise incompatible scholarly definitions of neoliberalism, reflects central neoliberal ideas (despite their own inconsistencies), and illuminates crucial features of contemporary neoliberal society. I discuss the implications of this interpretation for established democracies and for those countries that experienced democratization processes during the neoliberal era, for the debates on postneoliberalism, and for the political identity of the Left.

In recent months the UK Labour Party has been reviewing its policy approach and putting some flesh on the bones of what a Labour government led by Jeremy Corbyn and current shadow chancellor John McDonnell might hope to achieve. Central to their approach has been a renewed interest on the perils of market failure and what can be done about it. An alternative vision has emerged that focuses on prospects for a more cooperative and democratic economy constructed around a limited programme of (re)nationalisation and a National Investment Bank. In the process, two major reports have been produced as discussion documents. The first, Alternative Models of Ownership (herein referred to as AMO) discusses market failures and proposes a new type of economy based on co-ops, and a high-tech networked society encapsulating what McDonnell has referred to as "socialism with an iPad".1 The second report, Financing Investment (FI), examines the nature of the UK economy, with an array of policy proposals designed to boost the economy through investment in order to encourage productivity growth.2 Both reports are contextualised by academic contributions to the debate and discourse in which concepts such as "post-neoliberalism" or "alternative economic models" have emerged as political projects coveted by sections of the left. These theoretical contributions construct an alternative vision of society based on cooperative sharing, benevolent capital and state-facilitated investment as a successor to the neoliberal phase of capitalism. The purpose of this article is to explore this brand of socialist ideal and to offer a critique in the classical Marxist, revolutionary tradition.

My reflections on this theme are based on the experiences of Argentina. In some aspects, but not all, these reflections also refer to Latin America as a region. In Latin America, social movements, political leaders, and governments are increasingly framing issues and political responses at a regional (Latin American) level. Regional languages, political initiatives, as well as conventions, treaties, etc., promote social movement integration. "Demonstration effects" (as labeled by dependency theorists in the 1960s and 1970s) and a postcolonial and/or de-colonial discourse also encourage a synergy of advances throughout the region. At the same time, new "South-South" discourses and practices are in vogue, and take the form of social forums, academic collaborations, and shared intellectual projects. ; Fil: Pecheny, Mario Martín. Universidad de Buenos Aires. Facultad de Ciencias Sociales. Instituto de Investigaciones "Gino Germani"; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina