Wednesday, August 8, 2007

Another Review of Freedomnomics

This cliché of government intervention might not be the effective long-term solution for the economy that many trust it to be. John R. Lott, Jr., PhD, author of the newly-published book Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don’t, believes that government intervention into a free market can adversely affect the economy. Lott further maintains that many so-called “market failures” actually become profit opportunities for those people who work to solve the problems.

Dr. Lott was at the Heritage Foundation last Wednesday to discuss his book and explain his thesis supporting a free economy despite its shortcomings. Lott drew upon multiple examples from his book to prove that the free market works most effectively with as little government intervention as possible, and is actually able to solve its own market failures over time, contrary to popular opinion. Also, Lott expounded upon the long-term domino effects that touch society when the government exercises sufficient power. . . . .

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