The Economy: Away from Freedom

The monetary crisis that erupted last week was not the worst on record, but it was surely one of the most disturbing. It exposed the U.S. dollar as still alarmingly weak—at a time when it might logically be expected to gain strength. It also showed that the whole world monetary system is still ominously unstable, for all the progress supposedly being made toward reform. Worst of all, the crisis seemed to be the first in a new series of financial storms of the type that nations try to quiet by curbing the freedom...

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