Liberalism vs. Neoliberalism: Why is Socialism Popular Again?
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About the Event
Nearly all conservatives are strong supporters of a free market economy, with minimal government regulation or planning. But modern conservative enthusiasm for free markets has evolved well beyond the framework of Adam Smith’s “invisible hand” that maximizes wealth creation, and today incorporates epistemological understandings of economic activity. Leading thinkers include Joseph Schumpeter, F.A. Hayek, Milton Friedman, James Buchanan, Thomas Sowell, Ayn Rand, and Deirdre McCloskey. With the revival of the enthusiasm for socialism and the popularity of critiques of “neoliberalism,” it is time to revisit first principles of political economy.