This paper offers a historically contextualised intellectual history of the entangled development of three competing post‐war economic approaches, viz the Austrian, Chicago and post‐Walrasian schools, as three forms of neoliberalism. Taking our cue from Foucault's reading of neoliberalism as a mode of governmentality under which the social is organised through “economic incentives”, we engage with the recent discussions of neoliberal theory on three accounts: neoliberalism is read as an epistemic horizon including not only “pro‐” but also “post‐market” positions articulated by post‐Walrasian economists who claim that market failures necessitate the design of “incentive‐compatible” remedial mechanisms; the Austrian tradition is distinguished from the Chicago‐style pro‐marketism; and the implications of the differences among the three approaches on economic as well as socio‐political life are discussed. The paper maintains that all three approaches promote the de‐politicisation of the social through its economisation albeit by way of different theories and policies. © 2013 The Author. Antipode © 2013 Antipode Foundation Ltd.