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Orwell wrote that review at pretty much the same time as the Bretton Woods system of international monetary exchange was implemented, which the largest single p
by chalst 5y ago
Orwell wrote that review at pretty much the same time as the Bretton Woods system of international monetary exchange was implemented, which the largest single piece of the Keynesian economic foundations for 25 years of economic growth with a high level of stability and a low level of inequality in the US-centric world.
There were good reasons why Bretton Woods failed in 1970, but the subsequent ascendance of Hayekian neoliberalism doesn't look so good 40 years on.
- young_unixer 5y ago> Hayekian neoliberalism That very concept is a nonsensical. No Hayekian economist or ideologue calls themselves neoliberal.
- pnin 5y agoHayek himself used the term "neo-liberal" to describe the "movement" of liberalism to which he belonged [0]. The historian Quinn Slobodian [1] advocates using the term "neoliberal" for the intellectual history surrounding the Mont Pelerin Society. In this context, it is sensible to distinguish between a Hayekian strand and, say, Wilhelm Röpke's version of neoliberalism. [0] The Freeman, 1952. https://mises.org/library/freeman-july-1952-b https://mises.org/library/freeman-july-1952-b [1] Globalists. The End of Empire and the Birth of Neoliberalism.
- young_unixer 5y agoThanks. I didn't know that. My bad.