Conspiracyphobia: ‘Conspiracy Theory’ and the Neoliberal Disavowal of Conspiratorial Power

The term ‘conspiracy theory’ is used increasingly frequently, and its meaning is taken as common sense. However, I identify its recent popularisation with the ideology of neoliberalism. Tracing its origins to the theory of Karl Popper, which also influenced neoliberal thought, I show how the concept of the ‘conspiracy theory’ emerged to fulfil a crucial function within neoliberal ideology. Neoliberalism configures social relations as a transparent market of rational, self-interested individuals, free from collective, conspiratorial forms of power like class or state intervention, and at the same time materially depends on conspiratorial forms of power. The concept of the ‘conspiracy theory’ enables the disavowal of conspiratorial forms of power, masking this contradiction and perpetuating neoliberal ideology. This conspiracy-phobic attitude is exemplified by the dismissal of conspiratorial narratives in contemporary academic and popular discourse, alongside other discourses, like critical theory, which similarly challenge neoliberal systems of thought. With developments in neoliberalism (and post-neoliberalism) which suggest the return of explicitly political rather than economic configurations of power, a future in which the label ‘conspiracy theory’ is impotent and conspiratorial forms of power are directly challenged seems possible.