Europe didn’t buy the crap sold by ‘economist’ witch doctors like Milton Friedman and Alan Greedspan. At least, they didn’t buy it as much.
The US treats capitalism as a religious absolute. The rest of the world regards the US as a fairly extreme example of laissez-faire capitalism.
Lots of True Believers really thought that if you didn’t regulate anything and just let companies become more and more powerful, somehow the world would be a better place for it.
Check out the Chicago School of Economics if you want to know what really has brought us to this point. Hugely influential and hugely misguided, but it made a lot of men very rich and powerful so it was seen as a good thing 🤦
Europe didn’t buy the crap sold by ‘economist’ witch doctors like Milton Friedman and Alan Greedspan. At least, they didn’t buy it as much.
The US treats capitalism as a religious absolute. The rest of the world regards the US as a fairly extreme example of laissez-faire capitalism.
Lots of True Believers really thought that if you didn’t regulate anything and just let companies become more and more powerful, somehow the world would be a better place for it.
Check out the Chicago School of Economics if you want to know what really has brought us to this point. Hugely influential and hugely misguided, but it made a lot of men very rich and powerful so it was seen as a good thing 🤦
EDIT: Apologies to Witch Doctors everywhere.
Witch doctor here, I’m offended.
/s
As well you should be, sir! :)