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Recent declarations of the end of neoliberalism in the United Kingdom, especially since the Covid-19 pandemic, are underpinned by diffuse and unstructured understandings of the neoliberal state. We argue that state intervention is both necessary and unavoidable under neoliberalism. This article shows that the ‘market-based’ reforms and the ‘rollback of the state’ that overtly characterise neoliberalism are heavily reliant upon public policy and entail an ongoing role for state intervention both over time and across economic sectors. Using sectoral case studies of housing and water from within the United Kingdom, we demonstrate, through a tight analytical framing of both financialisation and commodification, the variegated though crucial role of the neoliberal state in restructuring provision to facilitate financialised accumulation and their transformations in response to the contradictions, dysfunctions and limitations of neoliberalised social reproduction.
Bayliss et al. (Sun,) studied this question.