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23 - More on Economy and Culture in the Present Time

from Part III - The Period after the 1970s

Published online by Cambridge University Press:  07 December 2023

Vito Tanzi
Affiliation:
International Institute of Public Finance (IIPF), Germany
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Summary

This chapter reaffirms the need to give equity a role in a market economy. That role can still retain the main and important role that a free market plays in allocating resources and in generating much of the income. But much of that role can be maintained while reducing the inequity that free markets might tend to generate. Some countries have been able to achieve this goal by pursuing some policies that reduce income differences at a minimum cost in restricting economic freedom. Libertarians have continued to call for what they call libertarian policies but have not specified what those policies are and what part of the government role should not be promoted.

Type
Chapter
Information
Monitoring the State or the Market
From Laissez Faire to Market Fundamentalism
, pp. 185 - 192
Publisher: Cambridge University Press
Print publication year: 2023

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