(Image: AAP/Bianca De Marchi)

After the financial crisis, there were plenty of predictions that capitalism had changed for good, and that the dramatic state interventions to bail out banks and prop up demand heralded the end of the dominant economic orthodoxy of unfettered markets, small government and powerful corporations.

It's true that much tougher capital requirements were imposed on banks and financial regulation was significantly more stringent to strengthen the global financial system.

But in many ways business-as-usual was quickly restored. Predictions of a new era proved false. Corporations immediately reverted to demanding tax cuts and deregulation and worked to stymie climate action.