This article by George Monbiot is as succinct a report on the dominant economic theory of the past 30 years as you could wish for. We have seen that wealth hasn’t trickled down, but formed in vast pools upwards. Economic belt-tightening has dried up demand, stifling overall recoveries.
The apostles have conducted a 30-year global experiment and the results are now in. Total failure.
His conclusion is just as stark.
As I say, I have no dog in this race, except a belief that no one, in this sea of riches, should have to be poor. But staring dumbfounded at the lessons unlearned in Britain, Europe and the United States, it strikes me that the entire structure of neoliberal thought is a fraud. The demands of the ultra-rich have been dressed up as sophisticated economic theory and applied regardless of the outcome. The complete failure of this world-scale experiment is no impediment to its repetition. This has nothing to do with economics. It has everything to do with power.