Introduction: Economic education is a high priority at the Dallas Fed. In a democracy, effecting sound economic policy requires an economically literate public. We’re convinced that greater economic literacy will lead to sounder policies, which will in turn raise our standard of living significantly.

That’s why I’m delighted to offer this publication, which looks at how communication, coordination and cooperation interact to make free markets work. Our hope is that it gives readers a deeper appreciation for an economic system that encourages both individual freedom and social cooperation.

I’ve read enough economics tomes to know that the subject can be made deadly dull. Luckily, Dwight Lee, author of this booklet, writes with style and humor. He has a knack for conveying complex information in a straightforward fashion and being entertaining in the process. We’re grateful that he agreed to take on this project.

— Bob McTeer
President, Federal Reserve Bank of Dallas [1991–2004]

Download Free Enterprise: The Economics of Cooperation

Pdf format, 265kb, 40pages.

Visit Free Enterprise: The Economics of Cooperation Official Website

Free Enterprise: The Economics of Cooperation is published by the Federal Reserve Bank of Dallas. The views expressed are those of the author and should not be attributed to the Federal Reserve Bank of Dallas or the Federal Reserve System.

The Federal Reserve Bank of Dallas is one of 12 regional Reserve Banks in the United States. Together with the Board of Governors in Washington, D.C., these organizations form the Federal Reserve System and function as the nation’s central bank. The System’s basic purpose is to provide a flow of money and credit that will foster orderly economic growth and a stable dollar. The Reserve Banks also supervise banks and bank holding companies and provide certain financial services to the banking industry, the federal government and the public.

The Dallas Fed serves financial institutions in the Eleventh District, which comprises the state of Texas, northern Louisiana and southern New Mexico.

For more information on the Federal Reserve Bank of Dallas, visit our web site at www.dallasfed.org.

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