Join Abby Innes, a Professor of Political Economy at the LSE, as she explores the unsettling parallels between neoliberalism and Soviet ideologies. Discover how the utopian ambitions of both systems can lead to societal pitfalls. Abby delves into the complexities of economic ideologies, revealing surprising similarities between British and Soviet politics amidst decline. She critiques the deterministic nature of neoclassical economics and Marxism-Leninism, and examines how historical insights reflect in today’s neoliberal debates, particularly through the lens of Brexit.
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insights INSIGHT
Similar Economic Utopias
Soviet and British neoliberal systems appear politically opposed but share similar economic reasoning based on machine models.
Both are deterministic utopias derived from axiomatic assumptions, not empirical observation.
insights INSIGHT
Neoclassical Economics Explained
Neoclassical economics aims to be a universal science using formal logic and math, inspired by physics metaphors.
It models individuals rationally navigating commodity spaces, contrasting with Marxism-Leninism's historical deterministic view.
insights INSIGHT
From Empirical to Deterministic Economics
The shift from Keynesian economics to neoliberalism replaced adaptive, empirical policy with rigid deterministic blueprints.
Neoliberalism treats economic science as universal, reducing democracy's role in shaping liberty to market navigation guided by prices.
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In 'Project Hail Mary', Ryland Grace, a high school science teacher, awakens on a spaceship with no memory of how he got there or his mission. He soon discovers that he is the sole survivor of a desperate mission to save Earth from a microorganism called the Astrophage, which is threatening to cause a new ice age. As Ryland regains his memories, he encounters an alien named Rocky, and together they work to solve the scientific mystery and save their respective home planets. The story blends science, humor, and heart, exploring themes of survival, discovery, and unlikely friendships[1][3][5].
There is an old Soviet joke, ‘Capitalism is the exploitation of man by man. Communism is its exact opposite.’ On the surface, neoliberalism, with its emphasis on free markets, competition and privatisation, is as far removed as possible from the Soviet Union. But behind the policies, could they be guided by the same false utopianism? Abby Innes, professor of Political Economy at the LSE, argues that the utopianism that guided the Soviet Union to disaster is eerily similar to the decline of our modern politics, and for Western states to succeed they need to throw off the shackles of utopianism and rediscover the scientific method.
Dr Abby Innes weaves political analysis with the scientific method to expose the ironic similarities between our current politics and the Soviet Union. She is an Associate Professor of Political Economy at the European Institute at the LSE. Her work focuses on party-state development, the transition from the Soviet system in Eastern Europe and the modern neoliberal state.
Do you think we are living in a Soviet dystopia? Email us at podcast@iai.tv with your thoughts on the episode!
Philosophy For Our Times 
