Abstract
In order to answer the question as to whether the political economy of New Labor under Blair was best described as neo liberal or reformed Keynesianism, it is necessary to define the two ideological trajectories. Indeed, neo liberalism sees the markets as self regulating entities and transforms the selfish forces of the individuals into general good. For them, the market provides the individuals with incentives, and by setting them in competition with each other, avoids any type of exploitation. And as far as the role of the government is concerned, it is believed that laws and organisms should be adapted to the ones of the market. Of course, this is an extreme vision, but in practice, it is characterized by very little state intervention and inflation targeted through monetary mechanisms.
