This article responds to issues raised about global governmentality studies by Jan Selby, Jonathan Joseph, and David Chandler, especially regarding the implications of ‘scaling up’ a concept originally designed to describe the politics of advanced liberal societies to the international realm. In response to these charges, I argue that critics have failed to take full stock of Foucault's contribution to the study of global liberalism, which owes more to economic than political liberalism. Taking Foucault's economic liberalism seriously, that is, shifting the focus from questions of natural rights, legitimate rule, and territorial security to matters of government, population management, and human betterment reveals how liberalism operates as a universal, albeit not yet global, measure of truth, best illustrated by the workings of global capital. While a lot more translation work (both empirical and conceptual) is needed before governmentality can be convincingly extended to global politics, Foucauldian approaches promise to add a historically rich and empirically grounded dimension to IR scholarship that should not be hampered by disciplinary admonitions.