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Social Security is a system built to collapse. While the horrific events
of September 11, 2001 wrenched the nation’s attention away momentarily
from retirement security to ational security,
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This book emerged from the kind invitation of the fellows
of Churchill College to deliver the Churchill Lectures of
1996. It is a pleasure for me to use this opportunity to
thank Frank Hahn,
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Yet, you feel that economics ought to be relevant to real
life. Doesn’t it deal with jobs, money, taxes, prices, and industry:
stuff of everyday existence?
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his is a work of contemporary history. The events being described
are continuing, and the global economic landscape is
changing at an even faster pace than we are accustomed to. But
the reader will still find the analysis quite current.
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In which the book’s central idea is set forth: namely, if morality represents how people
would like the world to work, then economics shows how it actually does work.
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The history of economics is full of tales of forgotten forerunners,
men whose work had no effect and was only rediscovered after
their main ideas had been made popular by others,
of remarkable
coincidences of simultaneous discoveries,
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This important collection of essays tackles a ubiquitous but
pernicious error committed by critics of the market, and occasionally
even by its advocates.
This is to regard the free market as a
necessary evil.
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