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Introduction In our fragmented, unstable, and often bewildering century, it is tempting to imagine that the challenges we face—rising authoritarianism, disinformation, inequality, and division—are uniquely modern problems. Yet over two thousand years ago, Plato wrestled with questions of truth, justice, power, and the fragility of democracy that remain startlingly relevant today. His great dialogue The Republic is not simply a philosophical blueprint for an ideal city; it is also a warning about the vulnerabilities of human societies and the ease with which they can collapse into tyranny. In a recent conversation for the Explaining History podcast, I spoke with Professor…
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Introduction The term 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…