Did 1970's stagflation completely refute Keynesian economics leading to a permanent shift to Neoliberalism ?
Why have all subsequence economic policies been about centering society around markets with variable levels of spending in countries here and there. But in general the neoliberal paradigm lives on like Govt. spending should be less, budgets should be balanced, markets should be free with less government intervention and eroding labor laws.
What prompted this shift?