How Neoliberalism Survived the Financial Meltdown
Econintersect: Philip Mirowski, Carl Koch Professor of Economics and the History and Philosophy of Science, University of Notre Dame, was interviewed in June by Sam Seder of Majority Report.FM. He discussed the history and current entrenchment of neoliberal economics, which is the subject of his recent book, Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown. The summary at Amazon includes a statement which says this book “is the definitive account of the wreckage of what passes for economic thought, and how neoliberal ideas were used to solve the very crisis they had created.”
Mirowski concludes that neoliberal thought has become so pervasive that any countervailing evidence serves only to further convince disciples of its ultimate truth. Once neoliberalism became a Theory of Everything, providing a revolutionary account of self, knowledge, information, markets, and government, it could no longer be falsified by anything as trifling as data from the “real” economy.
The interview starts at the 7 minute mark and ends just before 53 minutes.
Hat tip to Philip Pilkington, Fixing the Economists.