- Published in print:
- 2011
- Published Online:
- June 2013
- ISBN:
- 9780804775663
- eISBN:
- 9780804778961
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804775663.003.0009
- Subject:
- Economics and Finance, Economic History
Neoliberalism is an ideology that seeks to expand the reach of markets and promotes capitalism, strong states, and enterprise owners and managers. However, it has not gained the support of the ...
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Neoliberalism is an ideology that seeks to expand the reach of markets and promotes capitalism, strong states, and enterprise owners and managers. However, it has not gained the support of the majority of mainstream neoclassical economists. Economists are incorrectly assumed to be advocates of either the market or the state, a dichotomy that blends into others such as neoliberalism versus socialism, monetarism versus Keynesianism, markets versus central planning, and neoclassical economics versus Marxism. As a result, neoliberalism is incorrectly intertwined with neoclassical economics. Beginning in the 1920s and 1930s, socialist economists rejected authoritarian models in favor of democratic market socialism based on neoclassical economics. In addition to economists, members of social movements, dissidents, and participants in reform circles within Communist Parties around the world introduced new ideas about socialism that were co-opted and distorted by elites into neoliberalism. Many neoclassical economists continued to reject authoritarianism while using a social planner model. In many ways, socialist ideas have remained latent within neoliberalism.Less
Neoliberalism is an ideology that seeks to expand the reach of markets and promotes capitalism, strong states, and enterprise owners and managers. However, it has not gained the support of the majority of mainstream neoclassical economists. Economists are incorrectly assumed to be advocates of either the market or the state, a dichotomy that blends into others such as neoliberalism versus socialism, monetarism versus Keynesianism, markets versus central planning, and neoclassical economics versus Marxism. As a result, neoliberalism is incorrectly intertwined with neoclassical economics. Beginning in the 1920s and 1930s, socialist economists rejected authoritarian models in favor of democratic market socialism based on neoclassical economics. In addition to economists, members of social movements, dissidents, and participants in reform circles within Communist Parties around the world introduced new ideas about socialism that were co-opted and distorted by elites into neoliberalism. Many neoclassical economists continued to reject authoritarianism while using a social planner model. In many ways, socialist ideas have remained latent within neoliberalism.
