free market forces

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  • The Man from Red Vienna, Part II

    The great leftist thinker Karl Polanyi correctly observed that democracy cannot survive an excessively free market – and that containing the market is the task of politics. To ignore that truth, he understood, is to court fascism.

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  • The Man from Red Vienna, Part I

    Market society, Karl Polanyi persuasively demonstrated, could only exist because of deliberate government action defining property rights, terms of labor, trade, and finance. “Laissez faire,” he impishly wrote, “was planned.”

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