Economic policies have an ideological, cyclical pattern following a crisis. From the beginning of capitalism, at the end of the 18th century until the 1930s, it was Classic Liberalism; from the 1930s until the 1970s it was Keynesianism; from the 1970s until now it has been Neoliberalism ideology. The main difference among these models is how the state regulates the economy. During Classic Liberalism, the state really did not interfere much in the economy. It was paradise for snake-oil salesmen and other rascals.An interesting case during this period is the one of the Erie Railroad, ...
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