ABSTRACT
Old ideas are only abandoned when they have been proven faulty, and surely the old economic premises have given a resounding signal that they are no good. Free economics lets each specialize in their best skills to the combined benefit of all. Money will flow to the highest and best return per unit of risk and continuously stay close to balance. Low single digit inflation is a good even though it may be a path on the way to deflation. It is quite possible that the advice of the postwar period for development of war-ravaged areas was good for the early days of developing markets, coupled with large amounts of money when none other was available. Free flow of goods and money do not work, bring institutions to work for stimulus, bailouts usually at the financial sectors of the affected economy because that is where the trouble started.
