Summary of Never Let a Serious Crisis Go to Waste

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Rating

9 Overall

9 Importance

9 Innovation

8 Style


Recommendation

Markets aren’t just for stocks and bonds; it seems every problem facing society calls for a market solution. For many people, that seems logical. But economics philosopher Philip Mirowski believes that’s because the neoliberals have brainwashed the public. He plumbs neoliberalism – an overarching faith in free markets’ ability to ensure optimal human well-being – to reveal how it shapes finance, economics, governments, science and society, and seldom for the better. Mirowski attributes the 2008 financial crisis to neoliberalism run amok, and laments that the response to the crisis continues to draw from “the neoliberal playbook.” This sharp, witty and revealing work is not always accessible reading, but it’s worth the effort. Mirowski will lead you to question everything you take for granted about economics and its societal implications. While always politically neutral, getAbstract recommends this wide-ranging, philosophically based, reality-driven analysis to anyone who wants a cogent take on how the world got into such a mess.

In this summary, you will learn

  • What neoliberalism is and what it expounds;
  • How neoliberal ideas seeped into global economics, politics and culture; and
  • How neoliberals persisted and won in the aftermath of the 2008 crisis.
 

About the Author

Philip Mirowski is an economics philosopher and a historian at the University of Notre Dame. He also wrote Machine Dreams.

 

Summary

The Song Remains the Same
Judging by the response of governments, economists, politicians and pundits, the 2008 financial crisis didn’t teach the world very much. You might think the greatest economic disaster since the 1930s Great Depression would spur experts and policy makers to reach...

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