I think this oversimplifies in a lot of ways, here are a few:
- It says “the West”, but it’s always thinking of America. Lots of places in e.g. Europe have quite different ideas.
- In America we’ve recently had Obamacare, a great step in the opposite direction, and even with dominance of both houses and a president the Republicans are having trouble getting rid of it.
- Within the last ten years we’ve had the “We’re all Keynesians now” period. So at most this dominance of other schools must be a recent trend.