A reminder to myself on terminology
I’ve done a few posts here on the implications of the financial crisis for the ideological/political viewpoint often referred to as “neoliberalism”. Various people have objected to this as pejorative, but usually without offering a satisfactory alternative. I’m just starting a paper on the topic and looking over my old files, realised that I’ve previously used “economic liberalism” which seems much more satisfactory.
The crucial point it conveys is that economic liberals may or may not be liberal in the more general political sense – Pinochet is the most extreme example, but the extensive support he got from the Mont Pelerin society and from authoritarian economic liberals like Thatcher illustrates the point. Locally, the range of possibilities consistent with economic liberalism includes authoritarians like Howard and Downer as well as more broadly liberal positions such as those of John Hewson, Malcolm Turnbull and, to some extent, Peter Costello.