Is America moving away from a free-market economy?
How much government intervention is too much? That’s the big question on the minds of many Americans looking at the economic plans launched by President Obama’s administration over the past several months. While some economists are welcoming additional regulation of the institutions largely blamed for the recent financial crisis, others say more government involvement is only going to make things worse in the long run, damaging the country’s free-market economy. “I think it’s a disaster,” says Economics Professor William Boyes of the W. P. Carey School of Business at Arizona State University. “I didn’t think I would ever see the United States move to a primarily government-controlled economy, and it’s happened in just a few months.” Boyes, who has consulted for the U.S. Commerce Department, Federal Trade Commission, AT&T and Intel, is one of the vocal critics of recent economic measures taken by the administration. He believes the actions taken will significantly lower the standard of
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