Regulations: Addressing Market Failures and the Myth of Free Markets

The economist who exposed the hypocrisy of the free market

The economist Alice Amsden’s work unmasked the dirty secret underlying capitalist development: it relied on states breaking all the rules of the free market. But her work also showed that industrialization required corporate discipline, not welfare. For American defenders of economic liberalism and free markets, China’s rise has been deeply disorientating. Unmoved by concerns about the market distorting effects of picking winners, the Communist …

Regulations: Addressing Market Failures and the Myth of Free Markets

Recently, Federation Press published a weighty tome written by Arie Freiberg called “Regulation in Australia. 2nd Edition“. For those of you who are legislative junkies and can quote sections of occupational health and safety (OHS) law, you will love this, as it examines the mechanics of regulation, not just those of Industrial Relations or OHS. … Continue reading "Regulations: Addressing Market Failures and the Myth of Free Markets"