Yves here. I wish this were true and that neoliberalism was on its last legs. Really. But Richard Murphy puts far too much faith in revolutions. They can just as often result in unresponsive or more repressive forces being in charge (Arab Spring, 1848, although for the latter, some historians contend those uprisings did lead to accommodations by the elite).

Look at one of the poster children for a successful revolution, 1789 in France. It was almost 100 years before France achieved a stable democracy in the form of the Third Republic. In the meantime, you had a decade of rising violence, the Empire under Napoleon, then the Restoration, then the July Revolution of 1830 (remembered by few save hard core Les Miserables fans?) which led to the institution of a constitutional monarchy, then 1848 which led to a short-lived Second Repubic, followed by the Second Empire under Louis Napoleon.

Gramsci made the better call:

The crisis consists precisely in the fact that the old is dying and the new cannot be born;…