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A free market does not directly require the existence of competition; however, it does require a framework that freely allows new market entrants. Hence, competition in a free market is a consequence of the conditions of a free market, including that market participants not be obstructed from following their profit motive.
The title of the book points at the sharp decline in stock prices following the bankruptcy of the investment bank Lehman Brothers in September, 2008. Meanwhile, its subtitle reveals Stiglitz's conviction that free markets are at the bottom of the crisis, as he makes deregulation responsible for the rise of the shadow banking system, over-leveraged banks and subprime mortgages.
Author Jacob Soll's commitment to an untenable historical thesis distorts the facts.
The book was generally met with favorable reviews, including Reason magazine, [2] The Economist, [10] Financial Times, [11] and The Spectator. [7]Some critics of the book included the New Statesman, [12] and Kristian Niemietz of IEA stated that the book was even-handed in its criticism of both left and right wing politically motivated anti-liberalism, "Some chapters are primarily aimed at the ...
The Free Market as an Information Source As explained by the 18th century economist Adam Smith in his book “The Wealth of Nations,” the most important element of a free market is the ...
"Free Market Fairness" is a leading text of the movement known as "Bleeding Heart Libertarianism," which seeks to combine a commitment to economic liberty with a commitment to social justice. In 2018, Tomasi traveled to Santiago, Chile to meet with Chilean President Sebastián Pinera for a public discussion on the application of Tomasi's model ...
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. [ 1 ] [ 2 ] [ 3 ] The first known use of the term by economists was in 1958, [ 4 ] but the concept has been traced back to the Victorian philosopher Henry ...
The End of the Free Market: Who Wins the War Between States and Corporations? is a 2010 non-fiction book by Ian Bremmer, that discusses the rise of state capitalism, a system in which governments dominate local economies through ownership of market-dominant companies and large pools of excess capital, using them for political gain.