Free or Not to Be

Ashley Muchow Amid the financial turmoil that has inflicted most every world region in the past decade, much attention has been given to the timeless question of whether free markets work.  Ultimately, are we better off in a free market economy or is this just an erroneous belief whose figureheads undeservedly became household names? Pew...

Ashley Muchow

Amid the financial turmoil that has inflicted most every world region in the past decade, much attention has been given to the timeless question of whether free markets work.  Ultimately, are we better off in a free market economy or is this just an erroneous belief whose figureheads undeservedly became household names?

Pew Research Center’s Global Attitudes Project conducted a series of public opinion surveys asking individuals whether they believe most are better off in a free market economy.

Divergent to the fear fueled by the global recession, public support for free markets and trade has prevailed.  Fluctuations I found notable were the jumps in support amongst the French, Germans, and Spanish; all countries that have jumped on the European lift bejeweled by government expansion.  A recent Economist article notes, “All democracies eventually have to grapple with Europe’s Big Problem, that governments and social protections tend to grow until they choke the economies that pay for them.”

These numbers ignite that age-old adage; you don’t know what you have until its gone.  Europe has had its wake up call.  One can only hope this understanding reaches the U.S. sooner rather than later, but from the looks of Pew’s numbers, it appears we may not be learning from our European friends.