At the outset, the idea of liberalism was attractive on each subject, but the drawbacks were underestimated

Economic liberalism is based on an attractive idea in each of its components : Corporate governance must be based on maximising profits for shareholders; the idea is that this forces companies to be efficient and innovative, and that it is for the government and not companies to conduct redistributive policies. But the consequence of this choice has been that companies have increased their profits , not by being more efficient , but by skewing income sharing in their favour, and that governments have not been able to correct the inequalities created in this way; The objective of the free international circulation of goods and services and capital is efficient allocation of savings and the possibility of using countries’ comparative advantages; but the result has been a diversion of savings to the United States, excessive variability of capital flows and exchange rates, and manufacturing job losses in OECD countries. While the initial idea of liberalism was relevant, it is now being called into question due to its drawbacks.