The 2008 crisis produced no genuine reform and empowered the political right
Evidence
Conjure, if you will, a primal sequence encountered in B-grade horror films, where the celluloid protagonist suffers a terrifying encounter with doom, yet on the cusp of disaster abruptly wakes to a different world, which initially seems normal, but eventually is revealed to be a second nightmare more ghastly than the first. Something like that has become manifest in real life since the onset of the crisis which started in 2007. β¦ Not only had the sense of crisis passed without any serious attempts to rectify the flaws that had nearly caused the economy to grind to a halt, but unaccountably, the political right had emerged from the tumult stronger, unapologetic, and even less restrained in its rapacity and credulity than prior to the crash. β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 8
Categorization
- XREF: Echoes the books thesis statement that crisis was βnever let go to wasteβ β this frames the central paradox the whole chapter will explain. β connects to: The 2008 crisis strengthened rather than weakened the political right β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 8; The 2008 crisis was expected to falsify neoliberal doctrine but did not β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 80; The 2008 crisis disoriented the left instead of vindicating its economic worldview β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 46 (+8 more)
- DEEPTHINKING: Less dense than a top-tier passage but frames the puzzle at the heart of the whole book.
- corroborated: 3 independent passages support this claim β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 8
Broader Connections
- The 2008 crisis strengthened rather than weakened the political right
#corroborates(0.95) β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 8 - The 2008 crisis paradoxically strengthened right-wing and austerity politics worldwide
#corroborates(0.95) β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 9 - The 2008 crisis reinforced rather than refuted neoliberal and orthodox economic doctrine
#corroborates(0.90) β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 100 - The 2007-8 crisis failed to dislodge neoliberal policy dominance.
#corroborates(0.90) β Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 609 - The 2008 crisis was expected to falsify neoliberal doctrine but did not
#corroborates(0.85) β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 80 - The 2008 crisis killed none of the economic ideas that caused it
#corroborates(0.85) β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 44 - The 2008 crisis disoriented the left instead of vindicating its economic worldview
#corroborates(0.80) β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 46 - The 2008 financial collapse produced no accountable wrongdoers and no industry reform
#corroborates(0.80) β Albert Bandura, Moral Disengagement, 1564 - The 2008 crisis failed to produce a paradigmatic shift comparable to the New Deal.
#corroborates(0.75) β Natascha van der Zwan, Making Sense of Financialization, 115 - Opponents of neoliberalism could not locate the intellectual roots of the 2008 crisis
#corroborates(0.70) β Philip Mirowski, Never Let a Serious Crisis Go to Waste, 16 - The 2008 crisis replaced triumphalist free-market rhetoric with open-ended austerity
#expands(0.70) β Max Haiven, Cultures of Financialization, 158