The Morphology of Liberalism

Here’s a book review in The Economist looking at the morphology in meaning attached to (neo)liberalism. Here is the publisher’s blurb.

But the line between Smith and Friedman is not a straight one, as Mr Stedman Jones points out. Smith thought one of the state’s jobs should be to build public works and forge institutions that would otherwise fail under market pressure. Here he sounds more like Franklin Roosevelt. Smith believed the state should fund schools, bridges and roads. Friedman said that was the job of the private sector.