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. How do you calculate GDP with the income approach?

    Learn how to calculate the gross domestic product (GDP) of a country by using the income approach, which adds together all ...
  2. What are the goals of a "dove" Federal Reserve head?

    Find out more about the goals of a dovish Federal Reserve Bank chair and how the chair leverages low interest rates to spur ...
  3. What is the difference between term structure and a yield curve?

    Understand the difference between the term structure of interest rates and a yield curve, if any. Learn what the yield curve ...
  4. What is the opposite of a "dove"?

    Find out more about economics doves, the opposite of economics doves and the differences between hawkish and dovish economic ...
RELATED TERMS
  1. Horizontal Merger

    A merger occurring between companies in the same industry. Horizontal ...
  2. Factor Market

    A marketplace for the services of a factor of production.
  3. Nordic Model

    The social welfare and economic systems adopted by Nordic countries.
  4. Welfare Capitalism

    Definition of welfare capitalism.
  5. LIBOR

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

    An extended period of economic decline around the world. The ...

You May Also Like

Related Articles
  1. Economics

    Is Texas The Future Of America?

  2. Economics

    10 Most Influential Chinese Companies

  3. Entrepreneurship

    Comparing Impact Investing & Venture ...

  4. Investing

    Impact Investing: How it Works and How ...

  5. Stock Analysis

    Is Now the Time to Bet on Vacation Spending?

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!