The end of Neo-liberalism

During the sixties of the last century, the University of Chicago was the main place for founding (new liberalism), influenced by the ideas of the great economist Milton Friedman, professor of economic theory, and Leo Strauss, professor of political philosophy.[1]

I - Neo-liberalism contradicts the course of Keynesian economic policies:

Milton Friedman gave a contrary perspective to the entire course of the Keynesian economic policies that prevailed for four decades after the global crisis of 1929, opposing any regulatory-planning intervention of the state, calling for the abolition of the Federal Reserve system, [2] and considering that the actions of individuals in the market alone are sufficient to manage, regulate and correct its course, as He saw, unlike Maynard Keynes (1883-1946), that economic deflation does not struggle through state planning and high taxes, and inflation does not decline and is eliminated through monetary deflationary policies, but rather by increasing the flow of cash in the market, considering them a pure monetary phenomenon, proposing A solution to them by leaving the market free to its extent through its own movement, while reducing taxes to the maximum-limit-s.

As for Leo Strauss, he presented a new philosophical perspective on liberalism based on a vision that broke the link between the ideas of the founder of liberalism, John Stuart Mill, and the ideas of the French Enlightenment with Auguste Comte, the founder of positivism, to link liberalism with Edmund Burke, the conservative English philosopher who presented a philosophical critique of the ideas of the French Revolution ( 1789) a year after its establishment, and to link it with a philosophy of politics dating back to Plato, transcending (utilitarianism) and (his tools) modern political theory, which has prevailed on both the right and the left during the past four centuries, through Nicolas Machiavelli and Thomas Hobbes, calling for policies based on ( moral attack), armed with spirituality and democratic values.

Friedman had the opportunity to experiment with his economic policies during the era of US President Ronald Reagan, after he became one of the economic advisors in the White House in 1981, (the increase in the interest rate in American banks on deposits, during the six years of the Reagan era, led to the entry of 656 billion dollars into bank coffers The American economy came from abroad, which led to an end to the state of economic deflation and inflation, which the Keynesians believed was the cause of the rise in oil prices after 1973, and this was accompanied by Reagan with the abolition of many social and health security measures and a lot of government expenditures in social fields, with a trend radically lower taxes on individuals). [3]

[1] - Muhammad Sayed Rasasas, has the extension of neo-liberalism ended in favor of realistic policies? Life 10/13/2008.

[2] - The Federal Reserve System was established in 1913 and its power has increased since the era of Roosevelt in the 1930s.

[3] - Muhammad Sayed Rasas, the previous source.

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The end of Neo-liberalism
Prof. Dr. Moustafa El-Abdallah Al Kafry
Contents

I -  Neo-liberalism contradicts the course of Keynesian economic policies: 2
II - The Cold War and the rise of the neo-conservative model: 3
III - The policies pursued by the neo-liberals: 5
IV - The idea that the market economy is always right is crazy: 7
V - The failure of the market mechanism and the collapse of neoliberalism: 8
VI - Lessons and through the neoliberal crisis: 9

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