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- Title
Monitoring the state or the market: From laissez faire to market fundamentalism.
- Authors
Stagnaro, Carlo
- Abstract
The book review discusses Vito Tanzi's book, which argues against the wave of free market reforms that took place in the 1970s and 1980s. Tanzi suggests that the emphasis on efficiency in the economic system has led to a lack of focus on distributional issues, resulting in increased inequality and societal divisions. However, the reviewer questions whether all negative consequences can be attributed solely to free market reforms and highlights the importance of intellectual property rights and the potential for regulatory capture. Tanzi proposes finding a balance between extreme liberalization and extreme statism, using the Scandinavian countries as an example. Overall, the review encourages proponents of free market reforms to consider Tanzi's arguments and use them to strengthen their case for liberty and prosperity.
- Subjects
TAX expenditures; PUBLIC spending; PUBLIC finance; CONSUMPTION tax; ECONOMIC systems; INCOME redistribution
- Publication
Economic Affairs, 2024, Vol 44, Issue 2, p423
- ISSN
0265-0665
- Publication type
Book Review
- DOI
10.1111/ecaf.12635