Understanding Neoliberalism's Origins

Neoliberalism arose as a reaction to the expansion of the welfare state and public services in the mid-20th century. Influential economists Friedrich Hayek and Ludwig von Mises argued that any attempts to intervene in the market would lead to totalitarianism, reinforcing a slippery slope fallacy. This ideology, initially fringe, gained traction as wealthy elites recognized its potential benefits, prompting them to invest heavily in promoting neoliberal ideas. The transformation of these radical concepts into accepted norms was a calculated effort undertaken over generations by think tanks and rich donors.