As Hayek taught, freedom and the rule of law drive prosperity

The Road to Recovery

by JOHN B. TAYLOR

Burdened by slow growth and high unemployment—especially long-term unemployment—the American economy faces an uncertain future. 

• We have endured a painful financial crisis and recession, the recovery from which has been nearly nonexistent. 
• Federal debt is exploding and threatening our children and grandchildren. 
• In my view, the reason for this predicament is clear: we have deviated from the principles of economic freedom upon which America was founded.

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