‘Consistent Doctrine,’ ‘The Morals of the Market,’ and the ‘Filthy Load of Pinks’

Part of the Archival Insights into the Evolution of Economics book series (AIEE)


This chapter analyses Hayek’s description of the Mont Pelerin achievement: a ‘consistent doctrine and some international circles of communication.’ According to the MPS Statement of Aims: ‘It aligns itself with no particular party.’ Yet the MPS President (1996–1998), Edwin Feulner had been Executive Director of the Republican Study Group before becoming President of the Heritage Foundation (1977–2013); and of the 76 economic advisers on Reagan’s 1980 campaign staff, 22 were MPS members. Two chairs of the Federal Reserve—Arthur Burns and Alan Greenspan—were MPS members; as were Jerry Jordan (President of the Cleveland Fed), Homer Jones (Senior Vice President of the St. Louis Fed), plus six chairs of Republican President’s Council of Economic Advisers (Burns, Greenspan, Paul McCracken, Herbert Stein, Martin Feldstein and Beryl Sprinkel). In the UK, MPS members are overwhelmingly associated with the Conservative Party; and in Chile, MPS membership appears to be synonymous with the promotion of Pinochet’s dictatorship.


Archival Insights into the Evolution of Economics (and Related Projects)

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Authors and Affiliations

  1. 1.Department of EconomicsStanford UniversityStanfordUSA
  2. 2.Notre Dame Australia UniversityFremantleAustralia

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