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Masters of the UniverseHayek, Friedman, and the Birth of Neoliberal Politics$
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Daniel Stedman Jones

Print publication date: 2014

Print ISBN-13: 9780691161013

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691161013.001.0001

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The Legacy of Transatlantic Neoliberalism

The Legacy of Transatlantic Neoliberalism

Faith-Based Policy

Chapter:
(p.329) Conclusion The Legacy of Transatlantic Neoliberalism
Source:
Masters of the Universe
Author(s):

Daniel Stedman Jones

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691161013.003.0009

This concluding chapter reviews how neoliberalism transformed British, American, and global politics. At the dawn of the twenty-first century, the triumph of the free market was almost universally accepted by mainstream politicians, public officials, and civil servants. More importantly, the distinctive neoliberal brand of free market individualism had prevailed over alternative forms of managed market-based capitalism. Transatlantic neoliberal politics successfully transformed the commonsense assumptions of policymakers in Great Britain and the United States when confronted with social and economic problems, especially in the years after Margaret Thatcher left office. Value for money is effectively delivered through the discipline of the market to satisfy consumer wants. An equilibrium is achieved through the price mechanism, guiding the activities of disparate sellers and producers.

Keywords:   neoliberalism, global politics, market-based capitalism, United States, Great Britain, Margaret Thatcher, money, price mechanism

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