Neoclassical reasoning is institutionalized across virtually every British and international economic agent: the Treasury Green Book is a neoclassical second-best framework defining decision-making across all government departments, international financial institutions use neoclassical reasoning, and central banks rely on dynamic stochastic general equilibrium models built on a 'representative agent' and rational-expectations models.

factualpending

Speaker

Abby Innes

Evidence Quote

The Treasury Green Book that defines the decision-making processes across all government departments is a neocclassical second best world green book.

Source

How neoliberalism broke economics | Dr Abby InnesThe Institute of Art and Ideas
Created: 6/18/2026, 1:57:30 PM

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