Neoliberals wanted an international order forcing anti-inflationary policy onto states

Evidence

Rather than a global order that allowed for national-economic experimentation and expansion, neoliberals aimed at turning the causal chain around and establishing an international monetary order that would force societies onto a market-liberal and anti-inflationary path. The key question that shaped the neoliberal debates for the coming quarter century was posed by Hayek at the founding meeting of the MPS: “how can monetary policy be automatic, and outside the range of politics?” The classical solution to the twin neoliberal demands of free capital flows and automatic market mechanisms to roll back democratic economic policies had been the gold standard. Yet, after 1945, neoliberals launched an intense and enduring debate, in which the classical solution was criticized as unrealistic and was increasingly displaced by another proposal—that of floating exchange rates. — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 425

Categorization

• XREF: The inverted causality — using an external monetary order to discipline domestic politics — is the same logic later applied through the ECB and German ordo-ordering, and connects to the reader’s broader austerity/neoliberalism map. — connects to: Independent conservative central bankers can credibly commit against inflation where politicians cannot — Mark Blyth, Austerity: The History of a Dangerous…, 423; Neoliberal thinkers explicitly prioritized fighting inflation over reducing social friction. — Quinn Slobodian, Globalists: The End of Empire and the…, 187; Neoliberal economists saw wage cuts as necessary for small states to compete globally. — Quinn Slobodian, Globalists: The End of Empire and the…, 185 (+10 more)

Broader Connections

• Neoliberals captured global financial institutions to discipline nation-states #expands (0.90) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 2131