neoliberalism

2012. november 19. 10:08
The basic principle of the market economy is that you pay the cost of your financial mistakes. That didn’t happen in the case of banks in the recent financial crisis, so you can’t say that the cause of the crisis was the free market. What Mr Orbán says is a serious misinterpretation of the causes of the crisis, states Philip Booth, editorial and program director at the Institute of Economic Affairs in London. We caught up with Mr Booth recently at a conference in Slovakia entitled "Toward a Free and Virtuous Society," which was hosted by the IEA along with the Acton Institute of the US, the Austrian Europa Institut and the Slovak Kolegium Anton Neuwirth. Interview.