Coinciding with the release of a revised edition of The Limits of Neoliberalism: Authority, Sovereignty and the Logic of Competition, previously reviewed on LSE RB in 2015, William Davies argues that the recent surge in ‘populism’ must be understood in relation to the structures of political, cultural and moral economy, in particular the inability of neoliberalism to sustain the myth of a level playing field or a sense of shared reality between those who constantly ‘win’ and those who are set up to repeatedly ‘lose’