This article explores some concerns about the concept of neo-liberalism, suggesting that it has been stretched too far to be productive as a critical analytical tool. Neo-liberalism suffers from promiscuity (hanging out with various theoretical perspectives), omnipresence (treated as a universal or global phenomenon), and omnipotence (identified as the cause of a wide variety of social, political and economic changes). Alternative ways of treating neo-liberalism as more contingent and contested are considered. These emphasize its mobile and flexible character, stressing processes of contextual assemblage, articulation, and translation. The article concludes by wondering whether the concept of neo-liberalism is now so overused that it should be retired.