The Mont Pelerin Society (MPS) is an international organization composed of economists, intellectuals, business leaders, and others who favour economic liberalism. The society advocates free market economic policies and the political values of an "open society." The Mont Pelerin Society was created on April 10, 1947 at a conference organized by Friedrich Hayek. Originally, it was to be named the Acton-Tocqueville Society. After Frank Knight protested against naming the group after two "Roman Catholic Aristocrats" and Ludwig von Mises expressed concern that the mistakes made by Acton and Tocqueville in their lifetimes would be connected with the society, the name of the Swiss resort where it convened was used instead. Face-to-face trading interactions among on the New York Stock Exchange trading floor In the social sciences, economics is the study of human choice behavior and how it effects the production, distribution, and consumption of scarce resources. ... The liberal theory of economics is the theory of economics described by classical liberal authors such as Adam Smith or the French Physiocrats. ... A free market is an idealized market, where all economic decisions and actions by individuals regarding transfer of money, goods, and services are voluntary, and are therefore devoid of coercion and theft (some definitions of coercion are inclusive of theft). Colloquially and loosely, a free market economy is an economy... April 10 is the 100th day of the year in the Gregorian calendar (101st in leap years). ... 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... Friedrich Hayek Friedrich August von Hayek (May 8, 1899 in Vienna – March 23, 1992 in Freiburg) was an Austrian economist and political philosopher, noted for his defense of liberal democracy and free-market capitalism against socialist and collectivist thought in the mid-20th century. ... John Emerich Edward Dalberg-Acton, 1st Baron Acton (January 10, 1834 - June 19, 1902), English historian, only son of Sir Richard Dalberg-Acton, 7th Baronet, and grandson of the Neapolitan admiral, Sir John Acton, 6th Baronet, was born at Naples. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Frank Hyneman Knight (November 7, 1885 - April 15, 1972) was an important economist in the first half of the twentieth century. ... Ludwig von Mises Ludwig Heinrich Edler von Mises (September 29, 1881 – October 10, 1973) was a notable economist and a major influence on the modern libertarian movement. ...

History

In 1947, 39 scholars, mostly economists, with some historians and philosophers, were invited by Professor Friedrich Hayek to meet at Mont Pelerin, Switzerland, and discuss the state, and possible fate of classical liberalism. 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... Classical liberalism (also called laissez-faire liberalism[1]) is a term used to describe the following: the philosophy developed by early liberals from the Age of Enlightenment until John Stuart Mill and revived in the 20th century by Friedrich Hayek and Milton Friedman. ...

The Mont Pelerin Society has continued to meet on a regular basis, usually in September. The current president of the Mont Pelerin Society is Victoria Curzon-Price. President of the Mont Pelerin Society, she teaches economics at the University of Geneva in Switzerland. ...

List of participants

The original participants were

• Maurice Allais, French physicist and economist
• Carlo Antoni,
• Hans Barth,
• Karl Brandt, German-American agricultural economist
• Herbert Cornuelle
• John Davenport,
• Stanley Dennison,
• Aaron Director, professor at the University of Chicago Law School
• Walter Eucken, German economist, father of ordoliberalism
• Erick Eyck,
• Milton Friedman, American economist
• Harry Gideonse,
• Frank Graham,
• Ralph Harris,
• Friedrich Hayek, Austrian economist
• Henry Hazlitt, libertarian philosopher, economist and journalist
• Floyd Harper,
• Trygve Hoff,
• Albert Hunold,
• Carl Iversen,
• John Jewkes,
• Bertrand de Jouvenel, French philosopher and political economist
• Frank Knight, Chicago school economist
• Fritz Machlup, Austrian-American economist
• Henri de Lovinfosse,
• Loren Miller, civic reformer and libertarian activist
• Ludwig von Mises, economist
• Felix Morley,
• Michael Polanyi,
• Karl Popper, Austrian / British philosopher
• William Rappard, academic and diplomat
• Leonard Read, founder, Foundation for Economic Education
• George Révay,
• Lionel Robbins, British economist
• Wilhelm Röpke, social market economist
• George Joseph Stigler, U.S. economist
• Herbert Tingsten,
• François Trevoux,
• Orval Watts,
• Cicely Wedgwood.

Maurice Allais (born May 31, 1911) was the 1988 winner of The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for his pioneering contributions to the theory of markets and efficient utilization of resources. ... Karl Brandt (January 9, 1899 – July 8, 1975) was a German-American agricultural economist. ... Aaron Director (1901-September 11, 2004), a celebrated professor at the University of Chicago Law School, played a central role in the development of the so-called Chicago School of economics. ... The University of Chicago Law School is a part of the University of Chicago. ... Walter Eucken (* 17 January 1891 Jena, Germany; † 20 March 1950 London, UK) was a German economist and father of ordoliberalism. ... This article is about political philosophy of Ordoliberalism. ... Milton Friedman Milton Friedman (born July 31, 1912) is an American economist, known for his work on macroeconomics, microeconomics, economic history, statistics, and for his advocacy of laissez-faire capitalism. ... Frank Porter Graham (14 October 1886 - 16 February 1972) was a Democratic U.S. Senator from the state of North Carolina between 1949 and 1950. ... Ralph Harris, Baron Harris of High Cross, born December 10, 1924, was head of the Institute of Economic Affairs from its foundation in 1955, and is the current chairman of smokers rights campaigners, FOREST. In 1979, during Margaret Thatchers first few months in power, he was made a... Friedrich Hayek Friedrich August von Hayek (May 8, 1899 in Vienna – March 23, 1992 in Freiburg) was an Austrian economist and political philosopher, noted for his defense of liberal democracy and free-market capitalism against socialist and collectivist thought in the mid-20th century. ... Henry Hazlitt (November 28, 1894 - July 8, 1993) was a libertarian philosopher, economist and journalist for The Wall Street Journal, The New York Times, and Newsweek, among other publications. ... This article or section does not cite its references or sources. ... Bertrand de Jouvenel 1903-1987, French philosopher and political economist. ... Frank Hyneman Knight (November 7, 1885 - April 15, 1972) was an important economist in the first half of the twentieth century. ... The Chicago School of Economics is a school of thought in economics; it refers to the style of economics practiced at and disseminated from the University of Chicago after 1946. ... Fritz Machlup (December 15, 1902-January 30, 1983) was an Austrian-American economist. ... Loren Miller was a civic reformer and libertarian activist in the first half of the 20th century. ... Ludwig von Mises Ludwig Heinrich Edler von Mises (September 29, 1881 – October 10, 1973) was a notable economist and a major influence on the modern libertarian movement. ... Michael Polanyi (March 11, 1891 - February 22, 1976) was a Hungarian/ British polymath whose thought and work extended across physical chemistry, economics, and philosophy. ... Sir Karl Raimund Popper, CH, MA, Ph. ... This article or section contains information that has not been verified and thus might not be reliable. ... Leonard E. Read (1898 - 1983) was the founder of the Foundation for Economic Education, which was the first modern libertarian think tank in the United States. ... The Foundation for Economic Education (FEE) was the first modern think tank established in the United States specifically to promote, research and promulgate free-market and libertarian ideas. ... Lionel Charles Robbins, Baron Robbins (1898 - 1984) was a British economist of the 20th century who proposed one of the early contemporary definitions of economics, Economics is a science which studies human behavior as a relationship between ends and scarce means which have alternative uses. ... Wilhelm Röpke Wilhelm Röpke (October 10, 1899, Schwarmstedt, a village near Hannover - February 12, 1966, Geneva) was one of the most important spiritual fathers of the German social market economy. ... The Social market economy was the German and Austrian economic model during the Cold War era. ... George Joseph Stigler (January 17, 1911 – December 1, 1991) was a U.S. economist. ...

Influence

Hayek stressed that the society was to be a scholarly community arguing against "collectivism", while not engaging in public relations or propaganda. However, the society has always been a focal point for the international capitalist think-tank movement: Hayek himself used it as a forum to encourage members such as Antony Fisher to pursue the think-tank route. Fisher went on the establish the Institute of Economic Affairs (IEA) in London during 1971, the Heritage Foundation in Washington, D.C. during 1973, and the Atlas Economic Research Foundation in 1981. In turn the Atlas Foundation supports a wide network of think-tanks, including the Fraser Institute and the Manhattan Institute for Public Policy Research. Antony Fisher (1915 - 1988) was one of the most influential background players in the global rise of libertarian think-tanks during the second half of the twentieth century, founding the Institute of Economic Affairs and the Atlas Economic Research Foundation. ... The Institute of Economic Affairs (IEA) is a London-based conservative think tank. ... The Heritage Foundation, a think tank located in Washington, D.C., is an influential public policy research institute whose stated mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. ... The Atlas Economic Research Foundation was founded in 1981 by Antony Fisher. ... The Fraser Institute is a fiscally conservative Canadian think tank. ... The Manhattan Institute for Policy Research is an influential conservative think tank based in New York, and established in 1978. ...

Prominent MPS members who have advanced to policy positions include Chancellor Ludwig Erhard of West Germany, President Luigi Einaudi of Italy, Chairman Arthur F. Burns of the U.S. Federal Reserve Board, and President Václav Klaus of the Czech Republic. Eight MPS members, including F. A. Hayek, Milton Friedman, and George Stigler, won Nobel prizes in economics. Of 76 economic advisers on Ronald Reagan's 1980 campaign staff, 22 were MPS members. Ludwig Erhard (February 4, 1897–May 5, 1977) was a German politician (CDU) and Chancellor of Germany from 1963 until 1966. ... Luigi Einaudi (1874 - 1961) was an Italian political figure. ... Arthur Frank Burns (born April 27, 1904 in Stanyslaviv, Galicia (now Ivano-Frankivsk, Ukraine); died June 6, 1987 in Baltimore) was an American economist. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ... Václav Klaus (IPA: ) (born 19 June 1941) is the second President of the Czech Republic and a former Prime Minister of the Czech Republic. ... Friedrich Hayek Friedrich August von Hayek (May 8, 1899 – March 23, 1992) was an economist and social scientist of the Austrian School, noted for his defense of free-market capitalism against a rising tide of socialist thought in the mid-20th century. ... Milton Friedman Milton Friedman (born July 31, 1912) is an American economist, known for his work on macroeconomics, microeconomics, economic history, statistics, and for his advocacy of laissez-faire capitalism. ... George Joseph Stigler (1911 - 1991) was a U.S. economist. ... Nobel Prize medal. ... Ronald Wilson Reagan (February 6, 1911 – June 5, 2004) was the 40th President of the United States (1981–1989), and the 33rd Governor of California (1967–1975). ...

See also

• The Property and Freedom Society

The Property and Freedom Society is an international organization created for the global promotion of Austro-Libertarianism, or, to expand the term, the principles of the Austrian School and libertarianism. ...

External links

• Mont Pelerin Society, the official site
• Marc Haegeman, The general meeting files of the Mont Pèlerin Society (1947-1998). 108pp pdf.
• William H. Peterson, A History of the Mont Pelerin Society by R. M. Hartwell (book review), The Freeman, Foundation for Economic Education, July 1996.
• Greg Kaza, The Mont Pelerin Society’s 50th Anniversary, The Freeman, Foundation for Economic Education, June 1997.
• Mont Pelerin Society at SourceWatch

This article uses content from the SourceWatch article on Mont Pelerin Society under the terms of the GFDL.