"So far as I know, the MPS never produced and distributed an agreed public statement of its program. Outside the economics profession, it was invisible. The MPS was no more influential inside the economics profession. There were no publications to be discussed. The American membership was apparently limited to economists of the Chicago School and its scattered university outposts, plus a few transplanted Europeans. “Some of my best friends” belonged. There was, of course, continuing research and debate among economists on the good and bad properties of competitive and noncompetitive markets, and the capacities and limitations of corrective regulation. But these would have gone on in the same way had the MPS not existed. It has to be remembered that academic economists were never optimistic about central planning. Even discussion about the economics of some conceivable socialism usually took the form of devising institutions and rules of behavior that would make a socialist economy function like a competitive market economy (perhaps more like one than any real-world market economy does). Maybe the main function of the MPS was to maintain the morale of the free-market fellowship."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Robert Solow, "Hayek, Friedman, and the Illusions of Conservative Economics", New Republic (6 December 2012)
https://en.wikiquote.org/wiki/Mont_Pelerin_Society
Revision History
No revisions have been submitted for this quote.
Categories
Mont Pelerin Society
4 quotes on TrueQuotesView all quotes by Mont Pelerin Society →
Related Quotes
"I was invited to become a member of the Mt. Pelerin Society in 1957, and I vividly recall my first participation in a…"
"The group’s members depicted themselves as ‘liberals’ (in the traditional European sense) because of their fundamenta…"
"In some way, the founding and the first conference of the Mont Pèlerin Society, which, I feel entitled to say, was my…"
"Please let this Letter serve to represent that the Board of Peace is withdrawing its invitation to you regarding Cana…"
"It is my Great Honor to announce that THE BOARD OF PEACE has been formed. The Members of the Board will be announced …"
"Once this board is completely formed, we can do pretty much whatever we want to do. And we'll do it in conjunction wi…"
"We (United Kingdom) won't be one of the signatories today because this is a legal treaty that raises much broader iss…"
"Currency devaluations stimulated recovery in two ways: allowing nominal interest rates to fall and, so long as people…"
"This ground-plan, conceived by a great architect, exhibits a fundamental metaphysical dualism in Plato’s thought. ...…"
"These cases present the same question, that is, whether under the Revenue Act of 1934, 26 U.S.C.A. Int.Rev.Acts, page…"