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The notion that there is some abstract entity called the economy, which is distinct from the welfare of the people who live in it, is a crude materialistic fallacy. FT, 20.9.04	"The Truth About Markets" "Culture and Prosperity" In his ambitious and wide-ranging book, John Kay unravels the truth about markets. He explains why market economies outperformed socialist or centrally directed ones, but also why the imposition of market institutions often fails. Kay's search for the truth about markets takes him from the shores of Lake Zurich to the streets of Mumbai, through evolutionary psychology and moral philosophy, to the flower market at San Remo and Christies' salesroom in New York. Through this wide range of material, Kay shows that market economies function because they are embedded in a social, political and cultural context, and cannot work otherwise. A revised version of The Truth About Markets was published in the United States on 25 May 2004 as Culture and Prosperity. The UK paperback edition of The Truth About Markets was published on 29 April 2004. See the dedicated websites below and the Newsroom for more information. www.thetruthaboutmarkets.com www.cultureandprosperity.com This book is available for a reduced price in conjunction with orders of "Everlasting Light Bulbs". Click to order. Alternatively, you can also buy from Amazon. ^ back to top
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