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Freedom for Capital, Not People:The Mont Pèlerin Society and the Origins of the Neoliberal Monetary Order
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The definitive history of neoliberal monetary thought
Based on new archival sources, Freedom for Capital, Not People tells the story of how the Mont Pèlerin Society transformed the world economy. Founded in 1947 by economist Friedrich von Hayek, by the turn of the 1970s the society commanded influence at the highest levels of international monetary policy – with debates sparked by Hayek, Milton Friedman and Ludwig von Mises emigrating from the seminar room to the halls of power. The group’s collective agenda, the result of years of fierce argument and shrewd political strategising, would dominate the next half century of global capitalism.
Reviews
Matthias Schmelzer’s book is vital for understanding why democratic governments are today under attack. His rigorous enquiry into postwar economic debates unearths the neoliberal ideas that went on to unleash capital against democracy
With Bitcoin and gold at historic highs and dollar hegemony showing cracks, it is more urgent than ever to understand the politics of money. This book shows how neoliberals’ divisions over the question helped create the contemporary world. Which side wins out will shape the future
Beautifully translated by Joshua Rahtz, Schmelzer’s compelling analysis traces the forging of a neoliberal consensus on international monetary reform within the Mont Pèlerin Society and its influence on the upheavals of the early 1970s, with legacies that endure today