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A Check to Enlightened Capitalism
A check to enlightened capitalism

Even in thosecountries most attached to a narrow conception of free enterprise and the market economy, institutions and attitudes temper their ascendancy. Experience of the damage done in the name of laissez-faire, which marked the nineteenth century, everywhere prompted various forms of socialization of the economy with the aim of removing innumerable aspects of its functioning in a strictly market perspective (Polanyi, 1983). So it is that whatever major capitalist economy one cares to take, with neither labour, nor housing, nor health, nor agricultural produce does a truly free market operate. And each country, in keeping with its particular social and political traditions, has devised specific ways of overseeing the market through the agency of government, ...

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