Epistemic Justification for Neoliberalism: A Post-Crisis Truth

Abstract

The epistemic justification for neoliberalism in the aftermath of the financial crisis of 2007-2008 claimed its truth as an adaptive and resilient across the board approach. The proponents and critics of the thought generated knowledge that although ensured its survival but the anticipated role to reform global financial regime remains unresolved to the date. The methodological and epistemological help that it sought in first five years after the crisis are studied to highlight the epistemic coherence that the larger body of knowledge implicated to ensure survival of the neoliberal thought. Meanwhile, an epistemic analysis for a dual critique highlights how a departure from methodological coherence resulted in weakening of progressive critique of neoliberalism that endured through methodological coherence and political dominance. However, the epistemic coherence as a prerequisite for justifiable truth could not be achieved for a larger body of scholarship that could have helped achieve the required reform in global financial regime. An epistemologically and methodologically non-congruent knowledge impedes performance and applicability of theory and therefore an exploration of post-crisis truth is required as an evaluative study of theory and its applicability.