Economist Ian McAuley has written a series of articles called Brexit, Trump and the Lucky Countryon John Menadue’s site Pearls and Irritations. The analysis is good as far as it goes, but there are more fundamental factors at work.
The neoliberal program never achieved more than mediocrity and overall it has failed even on its own terms. Worse, it has corrupted government, fractured society and visited destruction upon the Earth. This failure flows from two false premises at the heart of neoliberalism: the libertarian claim that people should be rugged individualists, and the neoclassical claim that free markets usually will automatically optimise an economy.
Behind the votes for Brexit and Trump lies a simple perception: the system is rigged in favour of the rich. That perception is accurate. People may lash out at scapegoats and follow false prophets, but their disgust and alienation are quite justified. Trump promised to break up the cozy club at the top, and many people said Yes.
Full essay here.