Hm. Interesting.
Ilya Evdokimov
1

I was being facetious. Hayek’s philosophy inspired the Chicago boys to attempt the purest possible free market interventions specifically during times of crisis, sidestepping democratic process. In practice this lead to perverse, undemocratic, oppressive programs which Namoi Klein aptly dubbed as “disaster capitalism”. These “pure” capitalist interventions were exploitative, and extractive, consolidating power and resources to elites — totally undesirable if you think the role of an economy is to widely maximize individual freedom.

So yeah, betting on less regulation and “purer” marketplaces (doubling down on disaster capitalism in the face of new crises) when the gains of labor continue to be less and less accessible to workers makes exactly zero sense to me.

Hayek was a persuasive, and clever writer because he couched fanciful, liberal utopia in sober, slightly smug language. Points up for pithy quotes but points down for having inspired the neoliberal ideology.

Show your support

Clapping shows how much you appreciated Mark Fox’s story.