Review article
Compendium on (neo)liberalism
Ivan Ferenčak
Abstract
Capitalism cannot exist without a certain degree of liberalism. However, according to critics, neoliberalism
has gone too far and has exceeded the framework of “adequate freedom” of capitalism. Neoliberalism
brings to life the classic liberal doubt about the ability of the state to manage the economy. Aversion to
“great government” and state intervention has acquired different theoretical forms. Monetarism, public
choice theory, rational expectations and supply economics have expressed their doubts about state intervention
and its efficiency in different ways and for different reasons. Obviously, the government (state) is
not perfect. However, the market is also not perfect, which is admitted by both liberals and neoliberals.
Thus, there will be continued attempts by both supporters of so-called free market and supporters of state
intervention to “fix” this imperfect, capitalist world.
Keywords
Classic neoliberalism; social liberalism; inclusive liberalism; egalitarian liberalism; neoliberalism; monetarism; public choice theory; rational expectations; supply economics
Hrčak ID:
76187
URI
Publication date:
9.12.2011.
Visits: 2.905 *