Abstract
After the discovery by the communist leader, Mikhail Gorbachev, that the productivity of a centrally-planned economy is considerably less than that of free market economies, the impression given is that all markets should be free. This, however, is a misunderstanding which is harmful to all economies. The misunderstanding is that there are two types of markets, stable and unstable, and that only the stable markets should be free. The category of unstable markets is not unimportant, and so it is vital to make a distinction between the two.
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© 1992 Soumitra Sharma
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Tinbergen, J. (1992). Should All Markets be Free?. In: Sharma, S. (eds) Development Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22385-5_4
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DOI: https://doi.org/10.1007/978-1-349-22385-5_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-22387-9
Online ISBN: 978-1-349-22385-5
eBook Packages: Palgrave Social & Cultural Studies CollectionSocial Sciences (R0)