Neoliberalism in European and Anglo-American tradition

Abstract

The article analyzes the specifics of the conceptualization of neoliberalism in the European and Anglo-American traditions. Neoliberalism, which emerged along with Keynesianism, offered its own vision of the problems of government regulation. The most significant areas of neoliberal discourse were developed in Austria (Vienna School: L. Mises, F. Hayek and others.), Germany (Freiburg School: W. Eucken, L. Erhard et al.), the UK (London School: Е. Kennan, L. Robbins et al.), the USA (Chicago School or «monetarism» F. Knight, G. Stigler, М. Friedman et al.). It is noted that quite deep fundamental differences can be found between German and Anglo-American neoliberal schools. For the German neoliberal direction a number of social issues which solutions had to be constantly in sight of public institutions became important enough. While the Anglo-American neoliberal schools focused their attention on purely economic entity, they were not interested in framework that would outline the entity’s behavior. Today the most acute problem in neoliberalism is that neoliberals are seriously suspicious relating to democracy, they are ready rather to give power to experts and elite of the society than accept the principle of rule by majority that democracy provides.

Keywords

• neoliberalism
• Austrian school of neoliberalism
• Freiburg School of neoliberalism
• London School of neoliberalism
• Chicago School of neoliberalism
• modern liberalism.