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« Capitalism and Democracy | Main | Selgin on the Mortgage Crisis »


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I would disagree with the article on more fundamental grounds: why should we consider the post-invasion policies as shock therapy? While there was certainly shock (and awe!) in the economy I am not convinced that very many of the policies were very free-market. Citing a flat tax does not mean free-market if the overall tax rate is not low. That is more of a difference between republican and democrats than free-markets and socialism. Many goods in Iraq were under price controls after the invasion, and many still are. If prices are not allowed to move freely, then no one should be classifying the changes as therapy, but rather that a new bully has come into town.

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