The article takes a broad view of the evolution of neoliberalism as an element of party politics, class relations, popular belief systems and the policies of the international financial institutions (IFIs). Neoliberalism is defined as a version of the liberal ideology that prioritizes market relations, the latter understood as both a means of achieving optimal economic results and an ultimate expression of human freedom. Since the 1980s, neoliberalism has been championed by both center-right and center-left parties, promoted by IFIs such as the World Bank and the International Monetary Fund and lobbied for by big business. It has also resonated with the common sense of the broad sections of the population. However, over the past few decades, there have been significant changes in each of these areas: neoliberal ideology is experiencing a crisis of legitimacy, political parties are partially distancing themselves from it, IMF economists are rethinking some neoliberal prescriptions, and business is increasingly relying on tariffs and other forms of economic nationalism. Overall, the neoliberal moment is arguably exhausted. It is being replaced not so much by a new global ideology, scientific doctrine, and public policy paradigm, but rather by scattered experiments in state capitalism and economic nationalism, often emulating each other and major “trendsetters” such as China. The article documents these processes, drawing on a wide range of research literature and primary data, such as the ParlGov electoral statistics database and the World Values Survey international poll.