Vita Peacock turns in a significant contribution to the growing literature on precarious academic labor with her “Academic precarity as hierarchical dependence at the Max Planck Society,” which she published this year in the open-access journal Hau. Peacock’s paper is a challenge to what we could generically call “neoliberalism theory,” a body of thinking which has often viewed the ongoing explosion of precarious labor as a consequence of the general process of neoliberalization that has reshaped the global political economy since the 1970s. In academia, to rehearse the obvious, neoliberalization usually refers to things like the growth of contract and audit-based funding systems; the treatment of students as consumers (whose student debt is considered an investment in “human capital”); the expansion of academic branding and marketing; and the generalized decline in job security for university staff. Indeed, when the contingent workforce grows to 74.8% of all academic teachers in the United States (in 2007), one may reasonably speak of a growth of precarity. It matters how we analyze and historicize precarity, though; which is the crux of Peacock’s intervention.