The problem with this story is that while grossly exaggerating the impact of policies and trade agreements, it excludes a key underlying and primary causative factor of the current instability and malaise. This key factor is necessary not only for diagnosing but also for addressing the conditions that we face today. Keynesian reformers and social democrats, including Bernie Sanders, are either utterly unaware of, attempt to blithely ignore, or otherwise contest this factor. But its existence and effects are undeniable and its implications are enormous.
That is, excluded from the standard leftist narrative of neoliberalism is the following: the underlying, decrepit state of capitalism over the past forty-plus years, and the unlikely prospects for a return to robust economic growth in the foreseeable future.