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Economic Insight > Blog > Economics > The power of ideas | The Enlightened Economist
The power of ideas | The Enlightened Economist
Economics

The power of ideas | The Enlightened Economist

EC Team
Last updated: May 23, 2025 5:50 am
EC Team
Published May 23, 2025
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A few years ago I read it Master of the universe Daniel Steadman Jones is the history of Mont Perellin society, focusing on the fact that it has become such a profound influence on policy, first through Thatcher and Reagan, and then across the Western world. It made a big impression on me, and it’s about how important it is to look at Milton Friedman’s arguments and make sure that the “right” idea is in the air when moments of crisis create political opportunities. Montpellelin economists have maintained their free market faith since 1945, working on building an institutional network (mainly via Chicago) and seeding ideas.

I just read it Great persuasion Angus Burgin covers the same history from slightly different perspectives. That emphasis focuses more on the evolution of ideas of members of society (including its internal rifts). One of the same points about Hayek and his colleagues pops out: “When adopting this strategy [avoiding policy engagement]they demonstrated an extraordinary belief in the ability to create substantial political change,” writes Bourgin.

Certainly, great communicator Milton Friedman was one of the first major lights to embrace public engagement more aggressively. His most influential article is perhaps a New York Times essay to maximize shareholder value, distorting our economy. Books It also highlights the extent to which the first postwar claims on the importance of government and the importance of the Rays Fair in Manchester have changed over time on the transition from Europe to Chicago, the increasing influence of right-wing American donors, and the influence of economist domination in contrast to philosophers.

The two books are good complements, along with Quinn Slobodian’s book on neoliberalism. I haven’t read his latest one yet, Hayek’s bastardBut it’s early Globalist It’s worth reading.

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