This book offers an extensive review of market-oriented economic
reforms since 1970, and considers the question of whether more
liberal economic policy yields greater social welfare. The author
demonstrates that, despite the widespread uniformity of economic
policy across countries over the past 45 years, welfare differences
persist. Stankov posits that the crisis has stalled the momentum of
economic freedom reforms across the globe and policy agendas have
gradually shifted from pro-market to pro-redistribution. The book
argues that this shift is inevitable: market-oriented economics,
Stankov notes, is the natural bedfellow of populism. Through
rigorous empirical methodology and the use of various case studies,
Stankov is among the first to offer an empirical explanation.
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