In this episode of the Explaining History Podcast, we delve into the complex and often overlooked intersection of NeoliberalismMonetarism Monetarism is the economic school of thought associated with Milton Friedman, which rose to dominance as a counter to Keynesian economics. It posits that inflation is always a monetary phenomenon and that the government’s role should be limited to managing the currency rather than stimulating demand. Key Mechanisms: Inflation Targeting: Using interest rates to keep inflation low, even if high interest rates cause recession or unemployment. Fiscal Restraint: Opposing government deficit spending to boost the economy during downturns. Critical Perspective:Critics argue that monetarism breaks the post-war social contract. By prioritizing “sound money” and low inflation above all else, monetarist policies often induce deliberately high unemployment to discipline the labor force and suppress wages. It represents a technical solution to political problems, removing economic policy from democratic accountability. and National Liberation Movements during the pivotal decades of the 1940s, 50s, and 60s. Drawing insights from Quinn Slobodian’s insightful book “Globalists,” we unravel the ideological and practical challenges that the process of decolonization presented to neoliberal thinkers of the era. As countries across Asia, Africa, and Latin America broke free from colonial rule