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  • The Fallacy of the Mixed Economy An Austrian Critique of Recent Economic Thinking and Policy

    sECond EdiTion

    S . C . L I T T L E C H I L D

    The Institute of Economic Affairs

    IEA Fallacy of Mixed Economy.indd 1 05/02/2009 18:39

  • First published in Great Britain in 1978 by The Institute of Economic Affairs

    2 Lord North StreetWestminster

    London sw1p 3lb

    Second edition (with postscript) published in 1986

    This reissued edition published in 2009 byThe Institute of Economic Affairs

    in association with Profile Books Ltd

    The mission of the Institute of Economic Affairs is to improve public understanding of the fundamental institutions of a free society, by analysing and expounding the role of

    markets in solving economic and social problems.

    Copyright The Institute of Economic Affairs 1978 & 1986

    The moral right of the author has been asserted.

    All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright

    owner and the publisher of this book.

    A CIP catalogue record for this book is available from the British Library.

    ISBN 978 0 255 36633 5

    Many IEA publications are translated into languages other than English or are reprinted. Permission to translate or to reprint should be sought from the Director General at the

    address above.

    Printed and bound bound by Digital Book Print Ltd

    IEA Fallacy of Mixed Economy.indd 2 05/02/2009 18:39

  • The institute is a research and educational charity (no. CC 235 351), limited

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    About the IeA

    IEA Fallacy of Mixed Economy.indd 110 05/02/2009 18:39

  • Director General & Ralph harris Fellow John Blundell

    editorial Director Professor Philip Booth

    Managing trustees

    Chairman: Professor d R Myddelton Kevin Bell Professor Patrick MinfordRobert Boyd dr Mark PenningtonMichael Fisher neil Record Michael Hintze Professor Martin RickettsMalcolm McAlpine Linda Whetstone

    Academic Advisory Council

    Chairman: Professor Martin RickettsGraham Bannock dr Eileen Marshalldr Roger Bate Professor Antonio MartinoProfessorAlbertoBenegas-Lynch,Jr DrJohnMeadowcroftProfessor donald J Boudreaux dr Anja MerzProfessor John Burton Professor Julian MorrisProfessor Forrest Capie Professor Alan Morrison Professor steven n s Cheung Paul ormerodProfessor Tim Congdon Professor david ParkerProfessor n F R Crafts Professor Victoria Curzon PriceProfessor david de Meza Professor Colin RobinsonProfessor Kevin dowd Professor Charles K RowleyProfessor Richard A Epstein Professor Pascal salinnigel Essex dr Razeen sallyProfessor david Greenaway Professor Pedro schwartzdr ingrid A Gregg Professor J R shackletonWalter E Grinder Jane s shawProfessor steve H Hanke Professor W stanley siebertProfessor Keith Hartley dr Elaine sternbergProfessor david Henderson Professor James TooleyProfessor Peter M Jackson Professor nicola Tynandr Jerry Jordan Professor Roland Vaubeldr Lynne Kiesling dr Cento VeljanovskiProfessor daniel B Klein Professor Lawrence H WhiteProfessor Chandran Kukathas Professor Walter E WilliamsProfessor stephen C Littlechild Professor Geoffrey E Wood honorary Fellows

    Professor Armen A Alchian Professor Chiaki nishiyamaProfessor Michael Beenstock Professor sir Alan Peacocksir samuel Brittan Professor Ben RobertsProfessor James M Buchanan Professor Anna J schwartzProfessor Ronald H Coase Professor Vernon L smith dr R M Hartwell Professor Gordon TullockProfessor david Laidler Professor Basil s Yamey

    The institute of Economic Affairs2 Lord north street, Westminster, London sW1P 3LBTel: 020 7799 8900Fax: 020 7799 2137Email: iea@iea.org.uk internet: iea.org.uk

    IEA Fallacy of Mixed Economy.indd 111 05/02/2009 18:39

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    IeA subscriptionsThe IEA also offers a subscription service to its publications. For a single annual payment (currently 42.00 in the UK), subscribers receive every monograph the IEA publishes. For more information please contact:Adam MyersSubscriptionsIEA2 Lord North Streetfreepost lon10168London sw1p 3yzTel: 020 7799 8920, Fax: 020 7799 2137Email: amyers@iea.org.uk

    IEA Fallacy of Mixed Economy.indd 112 05/02/2009 18:39

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