The Economist’s depoliticisation of European austerity and the constitution of a ‘euphemised’ neoliberal discourse

The austerity measures adopted after the financial crisis of 2008-2009 accelerated the critical scholarship on neoliberalism and the media. This article uses discourse theory to analyse how The Economist newspaper constructed a 'euphemised' neoliberal discourse amid the European austerity drive in the years 2010-2012. The article argues for distinguishing between different types of neoliberalism and defines euphemised neoliberalism as a discourse that is characterised by a post-political style, a posture typical of The Economist's elite journalistic identity. The article discusses the type of discourse being articulated via The Economist's rhetorical strategies of moral and rational austerity, anti-politics and austerity as modernisation. These strategies allowed for a nuanced and even a critical debate on European austerity policies, but ultimately The Economist produced a depoliticised understanding of economic policy-making, as the need for austerity and reforms could not be questioned. Finally, the article discusses how the austerity measures adopted in 2010 led to a crisis in the previously constituted euphemised neoliberal discourse and accelerated counter-hegemonic discourses, such as authoritarian forms of neoliberalism. ; Peer reviewed