This paper revisits Foucault's understanding of the importance of subjectivity for politics, focusing in particular on his claims concerning the sorts of demands placed on the subject by contemporary capitalism. Moves to extend the application of Foucault's analysis of liberal modernity to the realm of world politics have met with heavy criticism lately. According to David Chandler, for example, the idea of a “global governmentality” rests on the fundamentally unreliable premise that contemporary globalisation is driven by a kind of hyperbolic or imperial cosmopolitanism. Such arguments, he suggests, fail to recognise the progressive hollowing out or “attenuation” of the political that in fact makes liberalism impossible in the late modern era. In response to this argument, and recent similar arguments made by Marxists, this paper attends to what Foucault referred to as the “consciousness of crisis” that grounds the project of neoliberal governmentality. It is Foucault's contention that neoliberal capitalism has a consciousness of itself as a theory which seeks to incite entrepreneurialism to the point of crisis. In this sense, to speak of a crisis of political legitimacy is not to speak of a kind of mass passivity or “checking out”, as Chandler might put it, but rather as an emergent form of behaviour that has been elicited or produced in a population. In order to escape Chandler's resentment of the failure of populations to live up to their responsibilities as political individuals, then, this paper draws on the theory of neoliberal governmentality. Understood principally as a summoning of entrepreneurial behaviours, the paper suggests that neoliberal governmentality affords us an opportunity for shifting the question of responsibility away from the sort of sovereign individualist platform elaborated by Chandler and towards a platform grounded more in the context of a dynamic and flexible global capitalism. To explore these issues, the paper contends, we should supplement Foucault's few rudimentary remarks on the subjectivity of neoliberal capitalism with the more fine-grained methods of “postliberal” economic analysis, such as that found in the works of Hardt and Negri.