September 29, 2008

In an interdependent world, recent U.S. troubles and response have erased much of the gains that free market economists had made during the last three decades. The U.S. track record for faster growth and higher productivity has created enormous pressure for European governments. Unfortunately our response to the panic of 2008 created doubts about free market economics and in the process, U.S. policymakers are perhaps inadvertently making the dirigistes case.

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