British capitalism today bears no resemblance to the promises of the Thatcher revolution: excessive financial extraction and the excessive power of the financial industry — which closed-system models cannot even integrate (the Treasury's computational general equilibrium models, originating with Soviet economist Wassily Leontief, leave financial markets out as too complicated) — alongside cost-of-living crisis, 4 million children in abject poverty, financialization and corporate state capture, none of which neoclassical economics can diagnose, yet which drive poverty and alienation from democracy.

causalpending

Speaker

Abby Innes

Evidence Quote

none of these things you can diagnose with neocclassical economics, but they are what is driving both poverty and alienation from democracy

Source

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

My Notes

Loading notes...