Do You Miss Neoliberalism Yet?

While much of the world recoils at the turmoil in markets, the upending of the global economy and the overwhelming uncertainty, I am feeling an odd sense of calm. Why? Because I am a proud neoliberal, and after President Donald Trump’s tariffs destroy what is left of the post-neoliberal world order, neoliberalism itself will be due for a comeback.

There is no perfect policy. Everything has trade-offs and creates winners and losers. But free trade and markets tend to make societies richer, more productive and more innovative. Over the last several decades, neoliberal policies helped reduce poverty and raise living standards, kept interest rates and inflation low, and enabled astounding innovations.