"[T]he neoliberal variant of capitalism was not the result of a a “corporate coup.” It is the result of the familiar, systematic workings of a capitalist state seeking to resolve a crisis and restore the system to 'health'...
... to say that the last thirty years of neoliberal policy were not simply the result of a “corporate coup” does not mean that Donald Trump is simply a “boilerplate” Republican. If he were, how could we explain the tremendous fight the GOP establishment waged against him?
Trump did not receive a single donation from a Fortune 100 CEO, while a broad range of top military brass and establishment Republicans — including George Bush, Mitt Romney, Colin Powell, Paul Ryan, Hank Paulson, Bill Kristol, and others — either endorsed Clinton or suggested they couldn’t support Trump. All this indicated a wide-ranging consensus among the capitalist class behind Clinton, founded upon maintaining the status quo abroad (“free trade” and militarism) and multicultural pluralism at home — a consensus which involved rejecting Trumpism as unacceptable.
The electoral success of Trumpism has offered capital a tempting new ideological means to cope with the legitimacy crisis of the state: an authoritarian populism that can enable hard-right market-building policies, but which also provides space for the mobilization of fascistic political movements.