Reclaiming the truth of the market in times of crisis: Course, transformation and strategies of a liberal discourse in Germany

Abstract

This paper presents an analysis of discursive transformations and strategies aimed at overcoming the crisis of neo-liberal discourse and order during the global financial crisis in the liberal key medium Frankfurter Allgemeine Zeitung. Using the analytical background of governmentality studies, the concept of ‘normalism’ and critical discourse analysis, I reconstruct and discuss four distinguishable phases of the discourse. Against the backdrop of these phases, I highlight four evolving discursive strategies which serve to justify the neo-liberal order: (1) changes in the inclusion, exclusion and representation of actors, (2) flexible normalization and de-normalization, (3) naturalization of the economic order and (4) a transformation of speech functions. In general, this exploration of the discursive transformation and strategies aims to open up new vistas for a discussion of the discursive handling of economic and, respectively, societal crises.