Freedom for Capital, Not People: The Mont Pèlerin Society and the Origins of the Neoliberal Monetary Order

by Matthias Schmelzer

The definitive history of neoliberal monetary thought

Based on new archival sources, Freedom for Capital, Not People tells the story of how the Mont Pèlerin Society transformed the world economy. Founded in 1947 by economist Friedrich von Hayek, by the turn of the 1970s the society commanded influence at the highest levels of international monetary policy – with debates sparked by Hayek, Milton Friedman and Ludwig von Mises emigrating from the seminar room to the halls of power. The group’s collective agenda, the result of years of fierce argument and shrewd political strategising, would dominate the next half century of global capitalism.

Genres: Economics, History, Politics, Nonfiction

278 pages, Kindle Edition

Published June 24, 2025

Reviews

[Shannon Heaton · Rating 3 out of 5]

The title of the book posits a thesis that I think we understood as a practical on-the-ground matter, but wasn't really reflected within the pages. It was the sort of work that was written at a remove from the key players involved, but didn't really get into the weeds of what really happened, either as expositive underpinnings of the doctrine that carried the MPS, or its effects. There was a lot of 'these guys met here and they were more laissez-faire than the existing international system, and they put themselves into key governmental positions by supporting each other's ideas' and then they met at another occasion, et seq.
Just wanted more meat to go with the idea, which certainly promised a lot.

[Andy · Rating 5 out of 5]

I often find books about Finance and Economics extremely challenging, not this one. Well presented and researched, the narrative is clear and accessible even for people with little or no knowledge of such complex subjects. Engrossing read.

[nin. · Rating 4 out of 5]

the more i learn about economics, the less i understand.