It's a type of junk-economics which has been forced into public consciousness over the last 30-40 years, and which originated in the '30s with philosophers such as von Mises and von Hayek.
Read David Harvey's A Brief History of Neoliberalism (http://www.amazon.com/Brief-History-Neoliberalism-David-Harv...) for a stunning exposition of the social and economic crises that have developed around the world as a result of governments attempting to apply this philosophy.
Read David Harvey's A Brief History of Neoliberalism (http://www.amazon.com/Brief-History-Neoliberalism-David-Harv...) for a stunning exposition of the social and economic crises that have developed around the world as a result of governments attempting to apply this philosophy.