Crisis commentary from 2008-10 shared one syllogism, that failure proves neoliberalism dying

Evidence

Yet, whether circumspect or perfervid, each crisis diagnostic held fast to the syllogism that people can learn from their mistakes; the deep contraction and financial breakdown stands as irrefutable evidence that neoliberalism is false; and therefore, neoliberalism must be on its last legs. That credo was the fuel of the machine that churned out reams of crisis commentary from 2008–10; it put the hi-fi in early litanies of financial reform. One encounters this admonitory approach to the death of neoliberalism in the most diverse accounts of the crisis. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 93

Categorization

  • QUESTION: This unifying syllogism across otherwise disparate crisis commentators is worth pursuing later - what does it predict about how the left failed to anticipate neoliberalism’s resilience?
  • XREF: Connects to Tett and Callinicos style ‘crisis of capitalism’ literature, and to the ‘thought collective’ framing the reader is tracing through post-2008 economics. — connects to: The orthodox crisis narrative by 2010 blamed government policy for the crash. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 1763; The 2008 crisis strengthened rather than weakened the political right — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 8; The 2008 crisis was expected to falsify neoliberal doctrine but did not — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 80 (+12 more)

Broader Connections