Never Let A Serious Crisis Go to Waste

Never Let A Serious Crisis Go to Waste
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After the financial apocalypse, neoliberalism rose from the dead—stronger than ever. At the onset of the Great Recession, as house prices sank and joblessness soared, many commentators concluded that the economic convictions behind the disaster would now be consigned to history. And yet, in the harsh light of a new day, we've awoken to a second nightmare more ghastly than the first: a political class still blaming government intervention, a global drive for austerity, stagflation, and an international sovereign debt crisis.Philip Mirowski finds an apt comparison to this situation in classic studies of cognitive dissonance. He 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.In this sharp, witty and deeply informed account, Mirowski—taking no prisoners in his pursuit of “zombie” economists—surveys the wreckage of what passes for economic thought, finally providing the basis for an anti-neoliberal assessment of the current crisis and our future prospects.

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Philip Mirowski. Never Let A Serious Crisis Go to Waste

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Never Let a Serious Crisis

Go to Waste

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One of the great neoliberal flimflam operations is to mask their role in power through confusion of “marketization” of government functions with the shrinking of the state: if anything, bureaucracies become more unwieldy under neoliberal regimes.85 Another is to imagine all manner of methods to “shackle” the state by reducing all change to prohibitive constitutional maneuvers (as with the “public choice” school of James Buchanan). In practice, “deregulation” always cashes out as “reregulation,” only under a different set of ukases.

[5] Skepticism about the lack of control of democracy is periodically offset by recognition of the persistent need for a reliable font of popular legitimacy for the neoliberal market state. This is a thorny problem for neoliberals: how to maintain their pretence of freedom as noncoercion when, in practice, it seems unlikely that most people would freely choose the neoliberal version of the state. As Hayek once wrote: “It would be impossible to assert that a free society will always and necessarily develop values of which we would approve, or even, as we shall see, that it will maintain values which are compatible with the preserva­tion of freedom.”86 In one sense, the NTC is itself one practical political solution to this conundrum: the Russian doll exists, in part, as a conscious intervention to change the culture in a direction more favorable to the neoliberals by disarming political opposition. However, since the very project itself could be regarded as violating a precept of the inviolability of individual volition, the neoliberals also have proposed a conceptual “fix” for the audacity of intervention.

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