The 2008 crisis killed none of the dominant economic doctrines.
Evidence
This is not exactly news. John Quiggin has entertainingly dubbed the phenomenon Zombie Economics, and deserves kudos for stressing this point. Incongruously, Friedrich Hayek’s Road to Serfdom has returned to best-seller lists after a long hiatus. Even Ayn Rand has apparently enjoyed a new lease on (undead) life. One can readily agree with Colin Crouch: “What remains of Neoliberalism after the financial crisis? The answer must be ‘virtually everything.’” … They fall from the presses, not stillborn, but clone-dead. The cynic might say: Leave it to academics to turn a pervasive human disaster into another unsustainable growth industry. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 44
Categorization
- XREF: Connects to the reader’s broader knowledge of the ‘thought collective’ thesis and Crouch/Quiggin as fellow travelers in criticizing zombie economics; could cross-reference how Mirowski positions himself against other critics. — connects to: The 2008 crisis killed none of the economic ideas that caused it — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 44; The 2008 crisis was fundamentally a crisis of economic ideas — Mark Blyth, Austerity: The History of a Dangerous…, 132; The 2008 crisis reinforced rather than refuted neoliberal and orthodox economic doctrine — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 100 (+5 more)
- corroborated: 3 independent passages support this claim — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 44
Broader Connections
- The 2008 crisis reinforced rather than refuted neoliberal and orthodox economic doctrine
#corroborates(0.98) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 100 - Neoliberalism survived the 2008 crisis relatively unscathed.
#corroborates(0.98) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 249 - The 2008 crisis was expected to falsify neoliberal doctrine but did not
#corroborates(0.92) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 80 - The 2007-8 crisis failed to dislodge neoliberal policy dominance.
#corroborates(0.92) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 609 - The 2008 crisis killed none of the economic ideas that caused it
#corroborates(0.90) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 44 - Economics survived the 2008 crisis intellectually unscathed, unlike other disciplines under attack
#expands(0.90) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 456 - The 2008 crisis was fundamentally a crisis of economic ideas
#contradicts(0.85) — Mark Blyth, Austerity, 132 - Neoclassical economics had no framework for deflationary crises
#complicates(0.75) — Mark Blyth, Austerity, 158