Classical Liberalism in Mexican Economic Thought

The Myth of Liberal Orthodoxy

Neoliberalism is not an offshoot of classical liberalism, not only is neoliberalism inconsistent with classical liberalism, it is a variant of statism. Although the political project of technocratic market administration carried out by a group of young economists returning to Mexico with foreign (mostly US and mostly University of Chicago) Ph.D. degrees in the 1980s may upon a superficial examination resonate with the criticism of state intervention that Mises and Hayek developed, a closer look reveals that there is a long way from Vienna to Chicago; whereas the liberalism of Mises and Hayek is ultimately based on the principles of individual dignity, subjectivism and non-intervention, the technocratic neoclassical analysis can at best conclude that state intervention is inefficient.

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