A pdf of this item is available by request from jmheyman@utep.edu . This offers a fundamental theory of neoliberalism, centered on the interaction of abstracted ("discretized") capital and place-based processes encompassed by the concept of mobility. lay out an argument about how anthropologists might study the relationships between places within the world system, highlighting the ceaseless movement of people, commodities, and biophysical components among them—orchestrated by peculiarly rootless forms of capital. This puts neoliberalism in its place as just the latest phase of capitalist orchestration of space and power, reworking previous formations. We emphasize mobility as constitutive of places, in both stabilizing as well as transformative ways; some flow repeat, building up places; others erode them; but discretized capital increasingly orchestrates the entire panoply of flows. Houses, land, factories, and infrastructure are less mobile than stocks, bonds, and futures; therefore, neoliberal policies have a different effect on the mobility of capital and flows of goods and people. Credit in this form creates disembodied, abstract financial vehicles that permit, for example, the transfer of titles, even when land itself cannot move. The authors contend that the basic thrust of neoliberal programs is to allow capital to move freely in and out of local markets and to pry loose assets from their place to redirect flows of capital, labor, and commodities into internal and external markets.