/biz/ - Business & Finance

>>13096345
>anti capitalist keynsian crap
"Following economic problems in the 1970s, liberal thought underwent some transformation. Keynesian economic management was seen as interfering with the free market, while increased welfare spending that had been funded by higher taxes prompted fears of lower investment, lower consumer spending and the creation of a "dependency culture". Trade unions often caused high wages and industrial disruption while full employment was regarded as unsustainable. Writers such as Milton Friedman and Samuel Brittan, who were influenced by Friedrich Hayek, advocated a reversal of social liberalism. Their policies, which are often called neoliberalism, had a significant influence on Western politics, most notably on the governments of United Kingdom Prime Minister Margaret Thatcher and United States President Ronald Reagan, who pursued policies of deregulation of the economy and reduction in spending on social services."