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.

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

  1. Dan Nunan says:

    The link does not work. Can you fix?

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