At the beginning of every course of economics, students are taught that free-markets are what should be aimed for. That markets have the ability to self-adjust, every intervention of the state leading to a misallocation of resources. Only later do students learn that the free-market concept may backfire by not bringing the anticipated results. Two cases are worth mentioning: (i) the one of South East Asian economies and (ii) the other of Latin America.
Book review published in The Journal of Philosophical Economics. To continue reading it, please access the following link.