Thursday, September 30, 2010

The Meaning(s) of “Economic Reform”

Scott Sumner's analysis of the changing sense of the word:

“The term ‘economic reform’ meant more government between 1875 and 1975, and has implicitly meant less government since.”

Readers of my “Second Twentieth Century” know why.

He further notes that the recent financial crisis pushed the US towards statism, while the rest of the world seemed to be moving in the opposite direction.

Read the post here .

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