Commentariat | Legally India

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byGuestfeatured

Which modern nation in this world is following a 'free-market economy' exactly? All the governments pick and choose policies to benefit their countrymen over outsiders and their cronies over others. As for GDP growth, that looks great in reports, but sadly, does not often make any difference to the bulk of the populace, because the benefits are mostly taken by the haves and not the have nots. For an economy to truly grow and benefit everyone, the government should increase planned and focused expenditure on health, education and creation of employment opportunities. That will always require taxing the haves more, especially corporates. Trickle down economics does not work in reality, just like communism does not.

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byGuestfeatured

3 years ago

First of all, lol. Second, what? I dont think you understand either marxism, neoliberal economics, or even austrian economics (hayek lol) you either have read none of the prevailing economic literature or are not aware the 2008 crisis even happened. Which btw was the exact cause of the policies friedman and hayek championed. Even despite this, just reading basic class 11th and 12th economics would've given you an idea of why neoliberal policies so often fail (think market failures) and despite this, you can observe the effects of neoliberalism all around you, the planet is warming, global inequality is reaching an all time high and the wages of the poorest strata of society can purchase only a fraction of what they were able to before.

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