Virtues and Vices of the Market: Balanced Correctives to a Current Craze

Not since they encountered it in nursery rhymes have references to the market so intruded into the consciousness of Americans as in recent months. There is now a virtual consensus that the market is the natural state of economic affairs, and its creation in nations not yet blessed with it is the prescription for every economic ailment. This makes vague good sense to most Americans, for whom the market has pleasant associations. Not surprisingly, for the market has long since come to determine...