Hayek and Friedman: The Neo-Classical Economics Reset

Le résumé fourni par la source

This chapter outlies the philosophical underpinnings of Hayek and Friedman both of whom championed a return to Smithian micro-economics subsequently adopted around the west and in many developing countries. Central to their conservative philosophy is their treatment of the individual’s contribution to society and the capitalist enterprise in an effort to lift the flagging global economy of the early 1970s. Social progress is the cumulative outcome of individual effort. Achievement in the enterprise inevitably comes with risk, there is no entitlement to success and business works best unencumbered by politically imposed social agendas in this economic/political theory. This reset not only influences business efficiency but has infiltrated government policies commodifying individuals and social goods. Marxian critiques of economic rationalism highlight increasing social inequity and individual anomie

Ce résumé expose les affirmations des auteurs. BNTIC ne l’interprète pas comme une validation indépendante des résultats.