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What Arguments Are Made in Favour of a Free-Market Economy

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What arguments are made in favour of a free-market economy? What are the arguments made by those who favour a large regulatory role for government? Consider issues such as economic productivity, economic inequality, and the extent of corporate welfare. Also, how do the recent corporate scandals, beginning with the collapse of the Enron energy trading company, play in to this debate?

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Arguments in favor of a free-market econ...

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