EDITORIAL ‘Free market’ ideology a failure: economists*

For over a century, as governments and central banks have come to play a larger role in society, the lives of more people have been affected by economic theories than at any time in history. It is also a time when prosperity, once the preserve of a small minority, has become universalised, not merely in the United States, Western Europe and countries like Australia, but throughout North Asia and increasingly, China and India. Over that time, the dominant paradigm in the West has swung from Adam…

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