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We fashion our selves and identities on the basis of this capacity for reflection. Neoliberalism is an old term, dating back to the s, but it has been revived as a way of describing our current politics — or more precisely, the range of thought allowed by our politics. Applied to an actual market — one for pork bellies or corn futures — this description is little more than a truism. They did not worship equations or models, and they worried about non-scientific questions. There was, from the beginning, an inevitable relationship between the utopian ideal of the free market and the dystopian present in which we find ourselves; between the market as unique discloser of value and guardian of liberty, and our current descent into post-truth and illiberalism. This was a way of birthing a new world. As Keynes jetted between London and Washington, creating the postwar order, Hayek sat pouting in Cambridge.

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Can they do anything to help us understand what is broken about British and American politics?

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You see how pervasively we are now urged to think of ourselves as proprietors of our own talents and initiative, how glibly we are told to compete and adapt. In the US, Hillary Clinton, the neoliberal arch-villain, lost — and to a man who knew just enough to pretend he hated free trade. The word has become a rhetorical weapon, but it properly names the reigning ideology of our era — one that venerates the logic of the market and strips away the things that make us human.

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