Friday, November 17, 2006

What is a Free Market Economy

In a generally respectful, though critical, post about the death of Milton Friedman, Jeff Madrick says:

But there were relatively free market economies without political freedom. One close to Friedman's early experience was Nazi Germany.

Nazi Germany was a "relatively free market economy"?????!!!!! I'm not sure Madrick really understands the term "free market."

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