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Article: Free market fairytale.(News)
- Article from:
- Cape Times (South Africa)
- Article date:
- April 4, 2008
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It is astonishing that someone should choose to write a long article proclaiming the virtues of the "free market" at a time like now ("The only way to prosper is through a free market" by Colin Boyes, April 2).
Blindness is a hazard for ideological zealots.
It's a bad time to be extolling the free market when the free market is in freefall. Consider:
l The world is in serious financial difficulty triggered by the free market in housing, otherwise known as the US sub-prime meltdown;
l The US is planning a major re-regulation of its financial sector to prevent further devastation ...