1970s Quote by Steve Hanke

“Since the end of the 1970s, free-market capitalism has been in, and socialism has been out.”

Steve Hanke

About This Quote

Source Speech: Economic Forum, 1990s, null

Free-market capitalism has dominated since the late 1970s while socialism has receded.

In simple terms: Capitalism rose, socialism fell.

Key Takeaway

Recognize shifting economic trends.

Themes

economics politics history

Mood

analytical neutral

Type

observational historical

When to use this quote

policy analysis
investment decisions
academic research

Key Concepts

Market dominance ideological cycles

Questions to Reflect On

How do mixed economies fit this view?
What factors could reverse this trend?

A Different Perspective

Overlooks regional variations and mixed economies.

★ ★ ★ ★ ★ 3.8 out of 5 (5 ratings)

1970s Capitalism Capitalism Socialism Economics End End 1970S Free market Market Capitalism Out Socialism

More by Steve Hanke

In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the…

Steve Hanke

Image

A minimum wage leads to higher levels of unemployment.

Steve Hanke

Image

Since China embraced Deng Xiaoping's reforms on 22 December 1978, China has experimented with different exchange-rate regimes. Until 1994, the yuan was in an…

Steve Hanke

Image

Until the Fed dumps inflation targeting and the U.S. abandons its weak-dollar policy, inflation will rule the day.

Steve Hanke

Image

With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets.

Steve Hanke

Image

The IMF is set up to deal with liquidity crises.

Steve Hanke

Image

Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26%…

Steve Hanke

Image

Trade balances are determined by national savings propensities, not exchange rates.

Steve Hanke

Image

In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the…

Steve Hanke

Image

Mercantilism was an insidious economic theory that held Europe in its thrall in the 16th, 17th and 18th centuries.

Steve Hanke

Image

In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.

Steve Hanke

Image

There has never been a failure of a currency board anywhere in the world. These are tough systems, and when I say they are…

Steve Hanke

Image

During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long…

Steve Hanke

Image

There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in…

Steve Hanke

Image

After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.

Steve Hanke

Image

Explore all 34 Steve Hanke quotes

More 1970s quotes

As someone who came to New York in the 1970s, I was, like so many of my friends, a certified member of what we…

Graydon Carter

Image

The 1970s, the decade of my teenage years, was a transitional period in American youth culture.

Eric Allin Cornell

Image

Back in the 1970s, it was mostly all-black audiences coming into the theaters. So, we presented stories they could relate to.

Rudy Ray Moore

Image

I'm a product of the 1970s.

Steve Rushin

Image

Once, bit-fetching was the job mainly of children. In the 1970s, if I sat too long looking bored, I'd be dispatched to the shop…

Grace Dent

Image

When I joined Ford, in the late 1970s, I felt strongly we could not forever be a huge user of natural resources without there…

Anonymous

Image

Wings was one of the first bands in the 1970s to do stadium tours, as well as Led Zeppelin. We had all the most…

Denny Laine

Image

The whole idea of making 'James' was to make an action film in the style of the 1970s and '80s.

Ram Gopal Varma

Image

All I know about 1970s New York City is that it's where I grew up, and you always have an umbilical connection to the…

Luc Sante

Image

I have lived my whole life just outside Youngstown, Ohio. We watched the steel mills close and 50,000 jobs disappear in the late 1970s.…

Tim Ryan

Image

When I was growing up in the projects in Philadelphia in the 1970s and 80s, Cadillac was the car to have. But I always…

Dawn Staley

Image

I don't really have a treasured possession, but I do love my family's proper old photo album. We all have hundreds of photos on…

Nicola Walker

Image

My family had been involved in gangs since the 1970s.

Richard Cabral

Image

When I was in high school in the early 1970s, we knew we were running out of oil; we knew that easy sources were…

Carl Safina

Image

When I was younger, I remember families like mine who had to deal with the disastrous policies of the 1970s.

Andrew Scheer

Image

Browse all 189 1970s quotes

1970s Quote by Steve Hanke

About This Quote

Related quotes

More by Steve Hanke

More 1970s quotes