Larner (2000) argues that neo-liberalism is a complex phenomenon that has been underestimated in many debates. The paper explores three interpretations of neo-liberalism: as a policy framework, as an ideology, and as a governmentality. Each interpretation has different implications for understanding welfare state restructuring and political strategies for social justice. Neo-liberalism is both a political discourse and a set of practices that facilitate distant governance. The paper also emphasizes the need to integrate insights from feminist and critical theory to better understand neo-liberalism. It challenges the notion that neo-liberalism is a monolithic ideology and highlights the contradictions and complexities of neo-liberal political projects, including the "New Zealand experiment." The paper argues that neo-liberalism is not simply a top-down policy agenda but a product of ongoing contestation and struggle. It also highlights the importance of considering the role of identity, gender, race, and class in shaping neo-liberalism. The paper concludes that neo-liberalism is more of an ethos or ethical ideal than a set of completed institutions, and that contemporary forms of rule are composite, plural, and multi-form. The paper calls for a more detailed engagement with contemporary changes in governance and a recognition of the complexity of neo-liberalism in shaping political and social life.Larner (2000) argues that neo-liberalism is a complex phenomenon that has been underestimated in many debates. The paper explores three interpretations of neo-liberalism: as a policy framework, as an ideology, and as a governmentality. Each interpretation has different implications for understanding welfare state restructuring and political strategies for social justice. Neo-liberalism is both a political discourse and a set of practices that facilitate distant governance. The paper also emphasizes the need to integrate insights from feminist and critical theory to better understand neo-liberalism. It challenges the notion that neo-liberalism is a monolithic ideology and highlights the contradictions and complexities of neo-liberal political projects, including the "New Zealand experiment." The paper argues that neo-liberalism is not simply a top-down policy agenda but a product of ongoing contestation and struggle. It also highlights the importance of considering the role of identity, gender, race, and class in shaping neo-liberalism. The paper concludes that neo-liberalism is more of an ethos or ethical ideal than a set of completed institutions, and that contemporary forms of rule are composite, plural, and multi-form. The paper calls for a more detailed engagement with contemporary changes in governance and a recognition of the complexity of neo-liberalism in shaping political and social life.