F Hayeekwe
Democratic Capitalism ,Ronald Reagan variant
Post–World War II (from Wikipedia)
In Europe after World War II, centre-right Christian democratic parties arose as powerful political movements while the Catholic traditionalist movements in Europe diminished in strength.[11] Christian democratic movements became major movements in Austria, the Benelux countries, Germany and Italy.[11]
Neoliberalism arose as an economic theory by Milton Friedman that condemned government interventionism in the economy that it associated with socialism and collectivism.[12] Neoliberals rejected Keynesian economics that they claimed advocate too much emphasis on relieving unemployment in response to their observance of the Great Depression, identifying the real problem as being with inflation and advocate the policy of monetarism to deal with inflation.[13]
Neoliberal economics was endorsed by Conservative British Prime Minister Margaret Thatcher who adapted it as part of a free-market conservatism closer to the developments in American conservatism, while traditionalist conservatism became less influential within the British Conservative Party.[14] However, the British Conservative Party still has a large traditional conservative base, particularly the conservative Cornerstone Group. Thatcher publicly supported centre-right politics and supported its spread in Eastern Europe after the end of the Marxist-Leninist regimes in the late 1980s and early 1990s.[15] After the collapse of communism in Eastern Europe, a variety of centre-right political parties have emerged there, including many that support neoliberalism.[16][17]
In the United States, President Ronald Reagan (1981–1989) adopted many policies stemming from Milton Friedman's economic theories, including principles from the Chicago school of economics and monetarism.[18] While social conservatives and the rise of the Christian Right contributed greatly to forming the Reagan Coalition, the President also had the support of centre-right economic neoliberals. Using Friedman's neoliberal theories, the Reagan administration cut the marginal income tax from 70% to 28%[citation needed] and slowed government spending growth from 10% in 1982 to 1% in 1987, thereby reducing inflation from 13.5% to 4.1% and civilian unemployment from 7.6% to 5.5% of the workforce throughout his tenure.[19]
https://www.libertarianism.org/columns/why-did-hayek-support-basic-income
https://bleedingheartlibertarians.com/2019/11/hayek-freedom-and-the-universal-basic-income/
This is why both Fred Hayek and Milton Friedman, each extremely well-known advocates of free markets, each liked the idea of basic income. People know what's best for them, not governments, so just give people cash, and let them use it in markets. Basic income also allows for the removal of market distortionary policies like welfare, subsidies, and minimum wage laws.
May 28, 2023 — Even Milton Friedman supported a safety net.(Libertarian Socialist coalition) The Pragmatic Case for Universal Basic Income
Medium
https://james-rooney474.medium.com › ...
Feb 24, 2019 — Even Milton Friedman supported the idea back in the 1970's, arguing it to ... UBI would provide a logical social safety net equipped for the ...
Here's another good read along these lines as well, explaining the Hayekian price system. (from reddit futurology)
Frederich Hayak supported Universal Basic income but only once a certain level of wealth is obtained so that there is no reason for a country not to create such a system
he Tyranny of Economists
New Republic
https://newrepublic.com › article › tyranny-economists
Sep 30, 2019 — Even Milton Friedman, the dark apostle of market fundamentalism, admitted that “ironically, the New Deal was a lifesaver.
Comments
Post a Comment