The Historic Roots of the Neoliberal Program

The roots of the neoliberal program are found in the late 19th century. The growth of large corporations, trade unions, and government programs surrounding social insurance ran counter to classical liberal ideology that centered on private property, market competition and laissez faire. In the 1930s, specifically in response to Keynes' call for more government intervention, liberals, led by Lionel Robbins and Friedrich von Hayek, began to organize a modified liberal program that attempted to meet the "socialist" (so-called) challenge to liberal ideals while maintaining the core of classical liberalism. Contrary to most understanding, this neoliberal program was not of a singular nature.