What led to the rise of popularity in Neoliberalism and why did it happen when it did?
>>1003652
Keynesian economics got btfo when stagflation turned out to be possible during the 70s. People in the US looked at places like Germany and Chile that were supposedly pretty successful under neoliberal policies and decided to do it here. This culminated in the Washington Consensus which the US has been advancing globally since the 80s, which incidentally keeps the poor poor and the rich rich.
>>1003675
>Keynesian Economics are to blame for the Instability during the Arab Israeli war
>>1003784
Are you some kind of retard? This has literally nothing to do with who is to blame for the Arab Israeli Conflict, and nowhere in my post did I say anything about who's to blame for that. Up until then, Keynesians basically thought that stagflation was impossible and said that the Phillips Curve could not shift. Well low and behold, the oil shock comes around and stagflation is possible, the Phillips Curve can shift. This pretty much completely discredited them and legitimized the Austrians and Monetarists. It caused the shift towards free market economics that we saw academically in the 70s and politically in the 80s. It has nothing to do with who started the conflict and everything to do with who could predict the implications of the conflict.
>>1003652
Who cares, all you need to know is that Trumponomics are coming and it stands for everything neoliberalism doesn't.
>>1003970
I was hoping I could trigger someone
>>1003675
I'll need some evidence for that m8. Also please don't confuse Friedman with that idiot who gives a bad name to capitalism.
>>1003652
Neoliberalism?
What does that mean?
Like I know when it's usually applied to certain things but other terms are better suited then Neo-liberal as a descriptor.
>>1003833
The austrians were discredited years ago, and haven't been legitmitised since. Fuck off Mises
>>1004375
Pretty much nobody calls himself a neoliberal, it's actually used as a slur by leftists. OP probably meant Chicago school monetarists.
>>1004375
Basically refers to a return to laissez-faire economics.
On 4chan it's usually used by people who want to complain about liberals but want to use a bigger word or to describe something as exceptionally liberal as if it meant super-liberal.
>>1004409
I wouldn't say completely laissez faire, more so government in place to fix market failures and provide when markets do not exist, also policing and back up property rights etc.
>>1004375
Keohane and Nye were two big Neo-Liberals
Its kinda like the scientific method version of Idealists, although its less 'ideal'
So, for example, States willingly acknowledge that it is typically better to co-operate than to fight, States use inter-governmental bodies to peruse policy, etc etc
Susan Strange wrote a article called Cav Hic Dragones which is quite useful to understand Neoliberalism, shes coming from a realist perspective so she criticizes it
>>1004379
>The austrians were discredited years ago
By whom?
>>1004432
Common sense
Ok, it's a bit complicated but here goes. We are working with some paradigms here of the Cold War, globalisation and Liberal International Relations Theory.
So in an effort to further bring the world onto friendly terms with each other, Liberal IR theory states that the strengthening of global institutions (economically, militarily, culturally) will do just that. In the face of the Soviet block in the early 80s, the idea that you could create a certain economic interdependence between Western countries arose with the sentiment that you couldn't possibly allow your ally to collapse as your economy would suffer repercussions.
This would hopefully, in the eyes of lawmakers, create a better sense of interdependence and cooperation between states and HOPEFULLY make the world a better place.
This was in contrast to pre-WWII economies which heavily relied on domestic policy rather than dealing with another country to any great capacity.
Of course, Neoliberalism has it's other economic implications, but my summary is why it was adopted in an International Relations lens.
>>1004443
Good meme
>>1003833
Finally, a smart response
>>1004363
Evidence for what? This is like the first thing you learn about in an introductory macro course.
>>1005321
Not the stagflation bit, but that the Washington consensus has kept the rich rich and the poor poor.
>>1003652
If i had a time-machine Friedman and his filthy crones would be the first do die. Fuck Neoliberalism, that and SJW bullshit has roderstyrd modern liberalism.
