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Economics Does Not Lie: A Defense of the Free Market in a Time of Crisis

Thursday July 2009


Guy Sorman Senior Fellow, Manhattan Institute; Contributing Editor, City Journal

The worst danger in an economic crisis is to forget everything we know about economics. With free markets in sudden disrepute and big-government theories, long thought dead, eerily reanimated, it is especially important to remember the unprecedented benefits that free markets have brought mankind.

In his new book, Economics Does Not Lie, Guy Sorman defends capitalism from its new enemies. Bad economic policies ravaged entire nations during the twentieth century, he points out. But beginning in the early 1980s, the public sector gave ground to market capitalism, and the results have been breathtaking. Opening economies and promoting trade helped reconstruct Eastern Europe after 1990 and lifted 800 million people out of poverty across the globe. Based on extensive interviews with the world's leading economists, Sorman's book makes a unique and timely contribution to understanding our time.

Each July, free-market think tanks remember the legacy of Milton Friedman, a champion of individual and economic freedom. Listening to Mr. Sorman's impassioned defense of free markets would be a fine way to do so. We also encourage you to read his City Journal article, "Economics Does Not Lie," and to visit the book's website ( for more information.