The New-Old Threat to Economic Freedom: Remembering Friedman and Hayek..

Prof John Taylor writes how history lessons are being forgotten:

With politicians proposing policies that would vastly expand the size of the government and its involvement in the economy, it is clear that too many Americans have forgotten the lessons of the twentieth century. As Friedrich Hayek and Milton Friedman pointed out long ago, deviating from market principles is a recipe for disaster.

We obviously keep going in circles. Post-2008 crisis, econs wrote how market driven policies or neoliberalism was the reason for the 2008 crisis. The crisis in turn led to rise in nationalism and decline in liberalism.

 

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