The economics profession and the Neoliberal Thought Collective symbiotically keep the financial system unaltered

Evidence

As Thomas Pynchon wrote in that great twentieth-century classic Gravity’s Rainbow, “If you have them asking the wrong questions, you don’t have to worry about the right answers.” Just as in advertising, the media are full to the brim trumpeting the shock of the new, when all that really happens is that you are being sold the same old jalopy under a new brand name. Thus the economics profession and the Neoliberal Thought Collective have attained coadjuvancy in a mutually beneficial symbiosis, whose product is the maintenance of an economic system and a financial sector essentially unaltered by the greatest global breakdown since the 1930s. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 674

Categorization

• XREF: connects to: Economic theory helped restore legitimacy to banned financial derivatives — Donald MacKenzie & Yuval Millo, Constructing a Market, Performing Theory, 9; Even anti-neoliberal orthodox economists now operate inside the profession’s neoliberal frame — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 2011; Reagan-era appointments turned the Fed into a channel for neoliberalizing economics — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 529 (+10 more)

Broader Connections

• The economics profession’s failed self-reform serves the neoliberal project by generating noise #corroborates (0.82) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 835
• Behavioral economics shares origins with, rather than refutes, neoliberal thought #expands (0.75) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 39
• Neoliberalism pivoted from the economy to the framework encasing it #expands (0.72) — Quinn Slobodian, Globalists, 88