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Is neoliberalism consistent with individual liberty? Friedman, Hayek and Rand on education employment and equality

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  • Irit Keynan

    (College for Academic Studies)

Abstract

In their writings, Milton Friedman, Friedrich August von Hayek and Ayn Rand have been instrumental in shaping and influencing neoliberalism through their academic and literary abilities. Their opinions on education, employment and inequality have stirred up considerable controversy and have been the focus of many debates. This paper adds to the debate by suggesting that there is an internal inconsistency in the views of neoliberalism as reflected by Friedman, Hayek and Rand. The paper contends that whereas their neoliberal theories promote liberty, the manner in which they conceptualize this term promotes policies that would actually deny the individual freedom of the majority while securing liberty and financial success for the privileged few. The paper focuses on the consequences of neoliberalism on education, and also discusses how it affects employment, inequality and democracy.

Suggested Citation

  • Irit Keynan, 2016. "Is neoliberalism consistent with individual liberty? Friedman, Hayek and Rand on education employment and equality," International Journal of Teaching and Education, International Institute of Social and Economic Sciences, vol. 4(4), pages 30-47, December.
    • Handle: RePEc:sek:jijote:v:4:y:2016:i:4:p:30-47
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    References listed on IDEAS

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    Cited by:

    1. Lukáš Augustin Máslo, 2021. "Guilds and Competition: A Response to Objections of Laissez Faire," International Journal of Social Sciences, European Research Center, vol. 10(2), pages 1-14, September.

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    More about this item

    Keywords

    Neoliberalism; liberty; free market; equality; democracy; social justice; education; equal opportunities; Conservativism;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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