What Francis Fukuyama Gets Wrong about Neoliberalism

Source: Foundation for Economic Education
by Richard W Fulmer

“The first chapter of Francis Fukuyama’s new book, Liberalism and its Discontents, is titled, ‘What is Classical Liberalism?’ While he never explicitly answers the question, he does list some liberal principles: respect for the individual and individual autonomy, protection of property rights and of the right to transact with others, and inclusion of individuals in the political process via the right to vote. … In his second chapter, Fukuyama identifies ‘neoliberalism’ as the book’s boogeyman, and, in so doing, fills the chapter’s eleven pages with a wealth of misinformation. According to the author, ‘neoliberalism was allied to what Americans label libertarianism, whose single underlying theme is hostility to an overreaching state and belief in the sanctity of individual freedom.’ He then charges neoliberalism, thus defined, with offenses that were committed largely by the very regulatory welfare state he favors …” (06/14/22)