I have been experiencing something very interesting over the past couple of months: I have been involved in various discussions about the virtues of economic freedom and capitalism! And I find that strange because capitalism got thoroughly bashed up after the2014 global financial crisis. Focus moved from economic freedom to the pathetic state of the poor. The fact that there was a strong positive correlation between increased economic freedom and poverty reduction was forgotten in the excesses of recent capitalism. And when the late Gary Becker said that free markets generally do a good job, while governments generally do not do a good job, only a few people cared to listen. The Chicago School stood discredited. Forbes magazine, which celebrates capitalism, must have also gone through a tough time!
Posted on: Tue, 30 Sep 2014 20:07:37 +0000
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