Title Masters of the universe : Hayek, Friedman, and the birth of neoliberal politics / Daniel Stedman Jones ; with a new preface by the author

Published Princeton : Princeton University Press, 2014

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Description 1 online resource (xvi, 389 pages) Contents Machine generated contents note: The Three Phases of Neoliberalism -- Neoliberalism and History -- Transatlantic Neoliberal Politics -- 1. The Postwar Settlement -- 2. The 1940s: The Emergence of the Neoliberal Critique -- Karl Popper and "The Open Society" -- Ludwig von Mises and "Bureaucracy" -- Friedrich Hayek and "The Road to Serfdom" -- The Mont Pelerin Society and "The Intellectuals and Socialism" -- 3. The Rising Tide: Neoliberal Ideas in the Postwar Period -- The Two Chicago Schools: Henry Simons, Milton Friedman, and Neoliberalism -- The Enlightenment, Adam Smith and Neoliberalism -- Economic and Political Freedom: Milton Friedman and Cold War Neoliberalism -- The German Economic Miracle: Neoliberalism and the Soziale Marktwirtschaft -- Regulatory Capture, Public Choice, and Rational Choice Theory -- 4.A Transatlantic Network: Think Tanks and the Ideological Entrepreneurs -- The United States in the 1950s: Fusionism and the Cold War -- British Conservatism in the 1950s Contents note continued: Neoliberal Organization in the 1950s and 1960s -- The Second Wave: Free Market Think Tanks in the 1970s -- Neoliberal Journalists and Politicians -- Breakthrough? -- 5. Keynesianism and the Emergence of Monetarism, 1945--71 -- Keynes and Keynesianism -- "A Little Local Difficulty": Enoch Powell's Monetarism -- American Economic Policy in the 1960s -- Milton Friedman's Monetarism -- The Gathering Storm -- 6. Economic Strategy: The Neoliberal Breakthrough, 1971--84 -- The Slow Collapse of the Postwar Boom, 1964--71 -- Stagflation and Wage and Price Policies -- The Heath Interregnum and the Neoliberal Alternative -- The Left Turns to Monetarism, 1: Callaghan, Healey, and the IMF Crisis -- The Left Turns to Monetarism, 2: Jimmy Carter and Paul Volcker's Federal Reserve -- Thatcherite Economic Strategy -- Reaganomics -- Conclusion -- 7. Neoliberalism Applied? The Transformation of Affordable Housing and Urban Policy in the United States and Britain, 1945--2000 Contents note continued: Postwar Low-Income Housing and Urban Policy in the United States -- Postwar Low-Income Housing and Urban Policy in Britain -- Jimmy Carter and the Limits of Government -- Property-Owning Democracy and Individual Freedom: Housing and Neoliberal Ideas -- The Reagan Administration -- Council House Privatization: The Right to Buy Scheme -- Transatlantic Transmissions: Reagan's Enterprise Zones -- Hope VI, Urban Regeneration, and the Third Way -- Conclusion -- Conclusion The Legacy of Transatlantic Neoliberalism: Faith-Based Policy -- Parallelisms: The Place of Transatlantic Neoliberal Politics in History -- The Apotheosis of Neoliberalism? -- Reason-Based Policymaking Summary "How did American and British policymakers become so enamored with free markets, deregulation, and limited government? This book--the first comprehensive transatlantic history of the rise of neoliberal politics--presents a surprising answer. Based on archival research and interviews with leading participants in the movement, Masters of the Universe traces the ascendancy of neoliberalism from the academy of interwar Europe to supremacy under Reagan and Thatcher and in the decades since. Daniel Stedman Jones argues that there was nothing inevitable about the victory of free-market politics. Far from being the story of the simple triumph of right-wing ideas, the neoliberal breakthrough was contingent on the economic crises of the 1970s and the acceptance of the need for new policies by the political left. Masters of the Universe describes neoliberalism's road to power, beginning in interwar Europe but shifting its center of gravity after 1945 to the United States, especially to Chicago and Virginia, where it acquired a simple clarity that was developed into an uncompromising political message. Neoliberalism was communicated through a transatlantic network of think tanks, businessmen, politicians, and journalists that was held together by Friedrich Hayek and Milton Friedman. After the collapse of Bretton Woods in 1971, and the 'stagflation' that followed, their ideas finally began to take hold as Keynesianism appeared to self-destruct. Later, after the elections of Reagan and Thatcher, a guileless faith in free markets came to dominate politics. Fascinating, important, and timely, this is a book for anyone who wants to understand the history behind the Anglo-American love affair with the free market, as well as the origins of the current economic crisis."--Jacket Notes Originally published: 2012 Bibliography Includes bibliographical references (pages 347-389) and index Notes Print version record Subject Hayek, Friedrich A. von (Friedrich August), 1899-1992 -- Influence Friedman, Milton, 1912-2006 -- Influence SUBJECT Hayek, Friedrich A. von (Friedrich August), 1899-1992 fast Friedman, Milton, 1912-2006 fast Subject Neoliberalism -- History Economic policy. Economics -- Political aspects Influence (Literary, artistic, etc.) Economic policy Economics -- Political aspects Neoliberalism Genre/Form History Form Electronic book ISBN 9781400851836 1400851831 0691161011 9780691161013

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