The Age of Milton Friedman

Andrei Shleifer

Journal of Economic Literature, 2009, vol. 47, issue 1, pages 123-35

Abstract: Between 1980 and 2005, as the world embraced free market policies, living standards rose sharply, while life expectancy, educational attainment, and democracy improved and absolute poverty declined. Is this a coincidence? A collection of essays edited by Balcerowicz and Fischer argues that indeed reliance on free market forces is key to economic growth. A book by Stiglitz and others disagrees. I review and compare the two arguments.

Date: 2009

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