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The myth of the free market “triumph”

The government will have to address the consequences of free market ideology in modern politics if it wants to be seen as the solution rather than the cause.

By Bryan Gould  

When Francis Fukuyama famously proclaimed the “end of history” and the triumph of western liberalism in 1989, his assertion reflected an assumption so obvious that he hardly bothered to argue it–that the “free” market and political democracy are two sides of the same coin.

Just over two decades later, as the western world is increasingly under challenge politically, culturally and–not least–economically, that assumption cannot be sustained. What Fukuyama failed to foresee was that the major threat to western economic and political hegemony, as well as to western culture…

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