Most scholars would date the origins of neoliberalism to the 1970s, when a range of crises gave rise to new forms of market-oriented governance.

But Brent Cebul, our guest on this month's episode, argues that liberalism's sharp turn towards neoliberalism wasn't so sharp after all. In fact, as early as the New Deal, liberals tried to realize their policy goals through market means. And officials in Washington worked hand-in-hand with otherwise conservative business and municipal elites on those development programs. Throughout the entirety of the long twentieth century, liberals have bound their visions of progress to the local needs of capital. In the process, they've ended up entrenching the very inequalities that they had set out to solve in the first place.