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Tank on the street of Santiago, Chile.

How Pinochet's Chile Became a Laboratory for Neoliberalism

The Chicago Boys and the tragedy of the Chilean coup.
Ruth Bader Ginsburg and Clarence Thomas talking

How Chicago School Economists Reshaped American Justice

The 50th anniversary of a groundbreaking work.
Adam Smith (left), George Stigler (center), Milton Friedman (right), Hyde Park streetscape in the background.

The Localist

Why did Chicago become the headquarters of free market fundamentalism? Adam Smith offers a clue.
Milton Friedman poses with a sculpture of himself.

Colossus Wears Tweed

A number of recent books blame the rise of neoliberalism on economists. But the evidence suggests it is still capital that rules.

How the Chicago School Changed the Meaning of Adam Smith’s ‘Invisible Hand’

Smith wasn’t warning about government intervention in the market; he was warning about government capture.
Milton Friedman.

Milton Friedman, the Prizefighter

The economist’s lifelong pugilism wasn’t in spite of his success—it may have been the key to it.
Friedrich Hayek listens to the president of the Centro de Estudios Públicos in Chile, Jorge Cauas, speak in April 1981.

Neoliberal Economists Like Milton Friedman Cheered on Augusto Pinochet’s Dictatorship

Friedrich von Hayek and Milton Friedman helped devise Pinochet's economic agenda and endorsed the brutal repression that was needed to force it through.
A shattered painting of Adam Smith.

The Betrayal of Adam Smith

How conservatives made him their icon and distorted his ideas.
Illustration of Economists in Different Positions in the Government

May God Save Us From Economists

Over the last half-century, economics has infiltrated parts of the federal government where it has no business intruding.
Black and white photo of people in formal clothing sitting in chairs

When Neoliberalism Hijacked Human Rights

Neoliberals refashioned the idea of freedom by tying it to the free market, and turning it into a weapon to be used against anticolonial projects worldwide.

The Rich Can't Get Richer Forever, Can They?

Inequality comes in waves. The question is when this one will break.

Wayward Leviathans

How America's corporations lost their public purpose.

Unchecked Power

How monopolies have flourished—and undermined democracy.

Neoliberalism’s World Order

Neoliberalism set out not to demolish the state, but to create an international order strong enough to override democracy in the service of private property.

The Rise, Fall, and Rebirth of the U.S. Antitrust Movement

A short history puts contemporary anti-monopoly movements in context.
Airplane tail with a bar code on it.

Who Gave Away the Skies to the Airlines?

In 1978, Jimmy Carter signed the Airline Deregulation Act. It gave rise to some truly miserable air travel—and neoliberalism.
Political cartoon depicting busts of Ronald Reagan, Milton Friedman, and Alan Greenspan on a mantle with spider webs.

The End of Milton Friedman’s Reign

The Chicago school ruled supreme over economics—until recently.
Axe chopping down columns

The Rise and Fall of Neoliberalism

The free market used to be touted as the cure for all our problems; now it’s taken to be the cause of them.
Luigi Einauldi, present of Italy in 1948, seated at his desk

The Dawn of Austerity

An interview with the author of "The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism."
Adam Smith.

The Contradictions of Adam Smith

Smith's influence on American politics, and the misunderstanding at the heart of our idea of the "champion of capitalism."
Photo of economist Albert Hisrchman surrounded by abstract drawings

We Don't Know, But Let's Try It

For economist Albert Hirschman, social planning meant creative experimentation rather than theoretical certainty.
Collage-style design of Milton Friedman and his work

The End of Friedmanomics

The famed economist’s theories were embraced by Beltway power brokers in both parties. Finally, a Democratic president is turning the page on a legacy of ruin.
Aerial view of the University of Chicago
partner

Higher Education’s Racial Reckoning Reaches Far Beyond Slavery

Universities helped buttress a racist caste system well into the 20th century.

Thirty Glorious Years

Postwar prosperity depended on a truce between capitalist growth and democratic fairness. Is it possible to get it back?

Is Anti-Monopolism Enough?

A new book argues that US history has been a struggle between monopoly and democracy, but fails to address class and labor when decoding inequality.

How Democrats Killed Their Populist Soul

In the 1970s, a new wave of post-Watergate liberals stopped fighting monopoly power. The result is an increasingly dangerous political system.

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