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Samuelson Friedman: The Battle Over the Free Market
Author: Nicholas Wapshott
Publisher: W W Norton
Price: $28.95
Price: $28.95
Pages: 352
The New Deal and World War II transformed the US economy from a market free-for-all into a system that was still capitalist, but with many of the rough edges sanded off.
Profit-seeking business remained very much the norm — America never went in for significant government ownership of the means of production — but businesses and businesspeople were subject to many new constraints. Taxes were high, in some cases as high as 92 per cent; a third of the nation’s workers were union members; vigilant antitrust
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