The Social Market Economy Revisited

In The Social Market Economy Revisited, former Chairman of the SMF, Lord Skidelsky, returns to the themes of his seminal 1989 essay that marked launched the Foundation.

In the wake of the biggest financial crisis in history, he examines how markets address different types of uncertainty, the role of convention in determining economic behaviour and the limits to the use of econometric analysis in forecasting the future. Arguing that financial systems cannot self-regulate, he calls for a renewed examination of the state as a potentially beneficial economic actor, and for a new kind of economics to support the social market economy.

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