How Free are Free Markets?
How Free are Free Markets?

Summary/Abstract: When the iron curtain fell twenty years ago, hope bubbled to the surface in Central and Eastern Europe. And five years ago, the Czechs and their kin joined the EU with great expectations. Now, given the current woes of global capitalism, the promise of free market integration is muted at best. The world has gone crazy as the East privatizes and the West socializes. The nature of the relationship between capitalism and democracy has been brought into focus. The conventional wisdom that economic growth brings individual liberties is at issue. To put the current state of affairs in context, let’s first take a look back.

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