What is the Mont Pelerin Society?

By Andrew Beattie AAA
A:

The Mont Pelerin Society was formed in 1947 when economist Friedrich von Hayek invited 39 people to meet at Mont Pelerin in Switzerland. Mostly made up of economists, the group was brought together to discuss the state of classical Liberalism. The society wasn't formed to put forth a particular political agenda, but all of the members shared core values about the liberty of the individual and the benefits of an open society. Being economists, the topics often spilled over to studying the strengths and weaknesses of free market economics and finding free market solutions to problems.

In the first years of the society, the members focused on the problems inherent in communism and collectivism. Many members of the society were brought into government think tanks and were instrumental in forming the economic policy.

Still very much active, the Mont Pelerin Society boasts a membership featuring Nobel Memorial Prize winners, high ranking government officials, journalists, financial experts and many others from all over the world. It meets on an annual basis for a general meeting held in a different country every year. (To learn more, see our Economics Basics Tutorial.)

This question was answered by Andrew Beattie

RELATED FAQS

  1. What is the difference between macroeconomics and finance?

    Dive into the world of economics by learning the key differences between macroeconomics and finance. These ideas help investors ...
  2. How successful is fiscal policy in guiding the national economy?

    See why it is difficult to evaluate the impact of fiscal policy on the national economy and how fiscal tools have failed ...
  3. What do Keynes and Freidman have to do with fiscal and monetary policy?

    Find out how John Maynard Keynes and Milton Friedman influenced how modern economists and analysts think about fiscal and ...
  4. What is the role of deficit spending in fiscal policy?

    Read about the role deficit spending can play in a government's fiscal policy, and learn why economists are torn about the ...
RELATED TERMS
  1. Welfare Capitalism

    Definition of welfare capitalism.
  2. LIBOR

    LIBOR or ICE LIBOR (previously BBA LIBOR) is a benchmark rate ...
  3. Global Recession

    An extended period of economic decline around the world. The ...
  4. Economic Exposure

    A type of foreign exchange exposure caused by the effect of unexpected ...
  5. Heckscher-Ohlin Model

    An economic theory that states that countries export what they ...
  6. North American Free Trade Agreement - NAFTA

    A regulation implemented on Jan. 1, 1994, that decreased and ...

You May Also Like

Related Articles
  1. Economics

    The Economic Impact of Better US-Cuba ...

  2. Economics

    How US & European Union Sanctions Are ...

  3. Economics

    Most Powerful And Influential Public ...

  4. Economics

    China's One-Child Policy Explained

  5. Economics

    A Look At China's Growing Influence ...

Trading Center