Neoclassical economics is not useless: it can be genuinely insightful for analyzing simple markets with repeated, isolable phenomena (such as asymmetries in contracting), rationalizing what happened or recurs in certain circumstances after the fact — but it cannot serve as a sufficient governing science, which is unsustainable both in philosophy of science and, judging by Britain's condition, socially and politically.

normativepending

Speaker

Abby Innes

Evidence Quote

the idea that it is a sufficient governing science is unsustainable in the philosophy of science.

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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