Another Lefty Blames Hayek for the Crash & 3rd World Poverty

What’s not to love about non-sense like this:

Neo-liberalism was far more ideological in temper than social democracy. It had a master theorist, Friedrich Hayek. And it had a faith: the wisdom of the market. Even though nowhere were the ideas of neo-liberalism fully implemented, for 30 years it provided the most important Western policy program and the dominant version of what passed for common sense.

The era of neo-liberalism brought great prosperity to many Western and some non-Western countries. But it also brought great instability and, especially in the US, levels of inequality not seen since the 20s. Nor did it offer a plausible solution to the intractable problem of extreme poverty in the Third World.

The writer, of course, is a tenured professor seemingly with not an ounce of intellectual history / history of economic thought in his little noggin.

Hayek gets blamed for the failures of the anti-Hayekian macroeconomics & central bankers, and for the failure of the anti-Hayekian development economists & foreign aid bureaucrats.  Lovely.

UPDATE:  Link fixed.

1 comment to Another Lefty Blames Hayek for the Crash & 3rd World Poverty

Follow FriedrichHayek on Twitter

Random Quote

Man has certainly .. often learnt to do the right thing without comprehending why it was the right thing, and he is still often served better by custom than by understanding. — F. A. Hayek

خريد vpn خريد vpn خريد vpn خرید vpn آنلاین