신자유주의 통치성과 관방주의의 재발견: 공기업·국부펀드 활용의 ‘공공재정’에 대한 시사점을 중심으로

This study examines the implications of a recent reconfiguration of the state's role vis-a-vis market with much emphasis on the state as a market participant rather than the catalyst and referee. Governments around the world have been much more actively utilizing state-owned enterprises, sovereign wealth funds, and public pension funds  in the global market especially during the last two decades. This study problematizes such an unprecedented role of the state against the Foucauldian neoliberal governmentality since such reconfiguration of the state role has occurred amid the juggernaut of neoliberalism. To make sense of such emergent role of the state as market participants, this study resorts to the once-lost-and-then-found German cameralism. Cameralism regarded the state as a rational market participant and urged it to raise state revenues by taking advantage of its status as the most important market actor. Most interestingly and unlike the British political economy as promoted by Adam Smith, cameralism viewed taxation as the last resort as a revenue source. This study argues that such cameralistic engagement of the state with the market does pose a new challenge to the very foundations of modern fiscal and budgetary institutions. It also ponders that state's stronger role as a market participant would not undermine neoliberal governmentality since individuals are further subjectivized as entrepreneur-consumers vis-a-vis the state rather than as taxpayer-service beneficiaries.