ABSTRACT
The difference between classic (laissez-faire) liberalism of mid-nineteenth-century Britain and the neoliberalism of today, based on the views of the neoliberal theorist Hayek, is that the former wanted to roll back the state, to let private enterprise make profits relatively unhindered by legislation (e.g. safety at work, trade union rights, minimum wage) and unhindered by the tax costs of a welfare state (e.g. Hayek and Caldwell, 2007).
