Should All Markets be Free?

  • Jan Tinbergen


After the discovery by the communist leader, Mikhail Gorbachev, that the productivity of a centrally-planned economy is considerably less than that of free market economies, the impression given is that all markets should be free. This, however, is a misunderstanding which is harmful to all economies. The misunderstanding is that there are two types of markets, stable and unstable, and that only the stable markets should be free. The category of unstable markets is not unimportant, and so it is vital to make a distinction between the two.


Fixed Cost Average Cost Permanent Loss Democratic Socialist Free Market Economy 
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Copyright information

© Soumitra Sharma 1992

Authors and Affiliations

  • Jan Tinbergen

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