Free Markets Under Siege: Cartels, Politics, and Social Welfare

Author: Richard A. Epstein

Hoover Press , 2005

One of the greatest challenges faced by liberal democracies is how to best regulate the interface between market choice and government behavior. In Free Markets under Siege, Richard Epstein draws on his extensive knowledge of history, law, and economics to examine this critical issue and in the process explains how to find an effective middle way between socialism and libertarianism.

With clarity, force, and wit, Epstein provides an illuminating analysis of some of the ways that special interest groups, with the help of sympathetic politicians, have been able to manipulate free markets in their favor. Focusing on two areas where government intervention has been persistent in both the United State and Western Europe—agriculture and the labor market—he makes a strong case for free trade as a way to mitigate, and perhaps eliminate altogether, the harmful effects of protecting various groups through domestic policies.

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