There are many more features of neoliberalism that Foucault did not and could not anticipate, including its grinding of gears between the national, postnational, and global; the importance of transnational institutions to governance and regulation; and the socialization of risk accompanying the privatization of gain. Foucault’s neoliberalism is notably statecentric, not governed by transnational or global institutions, and construes the relations between state, economy, and civil society in national terms.

Wendy Brown, Undoing the Demos, loc. 144