The End of Laissez-Faire: National Purpose and the Global Economy After the Cold War.

Washington Monthly | March 1, 1991| | Copyright

The End of Laissez-Faire: National Purpose and the Global Economy After the Cold War. Robert Kuttner. Knopf, $22.95. Quicksilver Capital: How the Rapid Movement of Wealth Has Changed the World. Richard B. McKenzie, Dwight R. Lee. Free Press, $22.95. You may have heard that Americans have forsaken laissez-faire economics. It happened when Alexander Hamilton became secretary of the treasury and announced that the government's job was to protect and nurture American manufacturers. Free markets? Adam Smith? Not in the land of the free and the home of the subsidy.

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