Hayekism

English

Etymology

From Hayek +‎ -ism. Named after Friedrich Hayek (1899–1992), Austrian-British economist, legal theorist and philosopher.

Noun

Hayekism (uncountable)

  1. (politics, economics) An economic ideology that emphasizes unregulated markets and the abandonment of welfare.
    • 2022 October 20, Jonathan Freedland, “Truss has discredited high-octane, free-market economics - perhaps for ever”, in The Guardian‎:
      The vision was of a low tax, low regulation society where the richest are freed to unleash their awesome talents and make themselves even richer. According to this vision – whether you call it Hayekism, ultra-Thatcherism, Reaganism or economic libertarianism – when the fortunate few at the top soar ever upwards, some of their wealth trickles down to those at the bottom.
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