On 26 September 2024, the ANU School of Sociology and ANU Capitalism Studies Network hosted the much-anticipated launch of Professor Melinda Cooper’s latest book, Counterrevolution: Extravagance and Austerity in Public Finance (Zone Books, 2024). The event, featuring an interdisciplinary panel discussion with Aditya Balasubramanian and Ben Spies-Butcher, brought together scholars to engage with Cooper’s exploration of neoliberalism and public finance.

The primary goal of the event was to celebrate and generate publicity for Counterrevolution, which critically examines how neoliberal ideas of public finance—shaped by Virginia school public choice theory and supply-side economics—deepened inequality and fostered dynastic wealth. Cooper’s analysis reveals how these economic schools of thought responded to the capitalist crisis of the 1970s, driving a counterrevolution that dismantled redistributive policies of the welfare state.

The guest speakers enriched the discussion with their own expertise. Aditya Balasubramanian’s work on decolonisation and political economy in the Global South, alongside Ben Spies-Butcher’s research on the evolution of Australia’s public sector post-liberalisation, offered critical insights into how neoliberal strategies have reshaped economic growth through asset appreciation. The panel highlighted the book’s relevance in understanding how public finance has been weaponised to exacerbate inequality, particularly in the United States.

Following a lively discussion with the audience, the evening concluded with a reception, allowing attendees to continue the conversation on these pressing economic and political issues.