Why Mirowski Is Wrong About Neoliberalism and the Austrian School
Philip Mirowski, known for his book More Heat than Light: Economics as Social Physics, Physics as Nature’s Economics in which he criticizes neoclassical economics for adopting methods from the natural sciences, recently published a book on neoliberalism and the economic profession during the financial crisis. In Never Let a Serious Crisis get to Waste: How Neoliberalism Survived the Financial Meltdown, his main thesis is that the economic profession utterly failed in predicting and explaining the financial crisis. Nevertheless mainstream economists did not suffer any negative consequences but continue with business as usual.
In Mirowski´s view neoclassical economics, neoliberalism, and the political right came out of the crisis stronger thanks to a complicated propaganda efforts and an intricate lobbying machine headed by the Mont Pelerin Society (MPS). According to Mirowski, the Mont Pelerin Society functions at the heart of a complex web of conservative and free market think tanks and neoliberal academics that controls politics.
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