Editing Neoliberalism (section)

=== Walter Lippmann Colloquium ===
{{Main|Colloque Walter Lippmann}}
[[File:Graph charting income per capita throughout the Great Depression.svg|thumb|upright=1.15|Per capita income during the [[Great Depression]]<ref>International data from {{cite web |first=Angus |last=Maddison |author-link=Angus Maddison |title=Historical Statistics for the World Economy: 1–2003 AD |date=July 27, 2016 |url=http://www.ggdc.net/maddison/Maddison.htm}}. Gold dates culled from historical sources, principally {{Cite book |title=Golden Fetters: The Gold Standard and the Great Depression, 1919–1939 |author-link=Barry Eichengreen |first=Barry |last=Eichengreen |publisher=[[Oxford University Press]] |location=New York |year=1992 |isbn=978-0-19-506431-5 |url=https://archive.org/details/goldenfettersgol00eich}}</ref>]]

The [[Great Depression]] in the 1930s, which severely decreased [[economic output]] throughout the world and produced high [[unemployment]] and widespread [[poverty]], was widely regarded as a failure of [[economic liberalism]].<ref>{{cite web |last1=van Otten |first1=George |title=The End of Economic Liberalism |url=https://www.e-education.psu.edu/geog597i_02/node/767 |website=GEOG 597i: Critical Geospatial Thinking and Applications |publisher=Penn State Department of Geography |access-date=July 6, 2019}}</ref> To renew the damaged ideology, a group of 25 liberal intellectuals, including a number of prominent academics and journalists like [[Walter Lippmann]], [[Friedrich Hayek]], [[Ludwig von Mises]], [[Wilhelm Röpke]], [[Alexander Rüstow]], and [[Louis Rougier]], organized the [[Colloque Walter Lippmann|Walter Lippmann Colloquium]], named in honor of Lippmann to celebrate the publication of the French translation of Lippmann's pro-[[Market (economics)|market]] book ''An Inquiry into the Principles of the Good Society''.<ref name="NR-Colloqium">{{cite news |last1=Solow |first1=Robert M. |title=Hayek, Friedman, and the Illusions of Conservative Economics |url=https://newrepublic.com/article/110196/hayek-friedman-and-the-illusions-conservative-economics |access-date=August 14, 2019 |publisher=[[The New Republic]] |date=November 15, 2012}}</ref>{{sfnp|Burgin|2012|pp=[https://books.google.com/books?id=BnZ1qKdXojoC&pg=PA58 58–62]}} Meeting in Paris in August 1938, they called for a new liberal project, with "neoliberalism" one name floated for the fledgling movement.{{sfnp|Hartwich|2009|pp=18–19}} They further agreed to develop the Colloquium into a permanent think tank based in Paris called the Centre International d'Études pour la Rénovation du Libéralisme.{{sfnp|Burgin|2012|p=[https://books.google.com/books?id=BnZ1qKdXojoC&pg=PA56 56]}}

While most agreed that the ''[[status quo]]'' liberalism promoting ''laissez-faire'' economics had failed, deep disagreements arose around the proper role of the [[Government|state]]. A group of "true (third way) neoliberals" centered around Rüstow and Lippmann advocated for strong state supervision of the economy while a group of old school liberals centered around Mises and Hayek continued to insist that the only legitimate role for the state was to abolish barriers to market entry. Rüstow wrote that Hayek and Mises were relics of the liberalism that caused the Great Depression while Mises denounced the other faction, complaining that the [[ordoliberalism]] they advocated really meant "ordo-interventionism".{{sfnp|Hartwich|2009|pp=19–20}}

Divided in opinion and short on funding, the Colloquium was mostly ineffectual; related attempts to further neoliberal ideas, such as the effort by Colloque-attendee [[Wilhelm Röpke]] to establish a journal of neoliberal ideas, mostly floundered.<ref name="NR-Colloqium"/> Fatefully, the efforts of the Colloquium would be overwhelmed by the outbreak of [[World War II]] and were largely forgotten.<ref name="JACKSON p=129">{{cite journal |last=Jackson |first=Ben |title=At the Origins of Neo-Liberalism: The Free Economy and the Strong State, 1930–1947 |journal=[[The Historical Journal]] |volume=53 |issue=1 |date=January 29, 2010 |issn=0018-246X |doi=10.1017/s0018246x09990392 |pages=129–51 |s2cid=154994025}}</ref> Nonetheless, the Colloquium served as the first meeting of the nascent neoliberal movement and would serve as the precursor to the [[Mont Pelerin Society]], a far more successful effort created after the war by many of those who had been present at the Colloquium.{{sfnp|Stedman Jones|2014|p={{page needed|date=May 2023}}}}