The right and left have both signed up to the myth of free market | Larry Elliott

The problem for progressives is that neo-classical beliefs have taken politics to the right

You can’t buck the market. The turn to the right taken by politics from the mid-1970s onwards was summed up in one phrase coined by Margaret Thatcher in 1988.

This idea tended to be associated with liberal economists such as Milton Friedman and Friedrich Hayek, both of whom influenced Thatcher deeply. Both thought that left to their own devices buyers and sellers would work out the price for everything, be that a loaf of bread, a wage, or an operation in the health service.

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