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Problem 5 Markets “Indeed, it has been said that democracy is the worst form of government,”...

Problem 5 Markets

“Indeed, it has been said that democracy is the worst form of government,” said British Prime Minister Winston Churchill (1874-1965), “except for all those other forms that have been tried from time to time.” Some people make the same claim about more market-oriented forms of economic systems. What do they mean? Do you agree or disagree?

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