For decades, the New Deal shaped the American economic system, until one fringe political project and ideology eventually overshadowed the old system with a system that put the free market above all else.
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Friedrich von Hayek in the late 1930s. Hayek founded the Mont Pelerin Society and was one of the first leaders of neoliberal thought.
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Milton Friedman, the Nobel Prize-winning economist who was one of the most influential economists of the 20th century.
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President-elect Ronald Reagan (fifth from left) meets with his top economic advisers, including Milton Friedman (second from left) to discuss his economic agenda.
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President Bill Clinton addresses a White House conference on social security in 1998.
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What is the role of government in society? What are we talking about when we talk about individual responsibility? What makes us free? “Neoliberalism” may seem like a spongy term, difficult to define and understand. But this ideology, founded by a group of men in the Swiss Alps, is a political project that has dominated our economic system for decades. In the name of free market fundamentals, the forces behind neoliberalism act like an invisible hand, shaping almost every aspect of our lives.
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