You are expected to develop and substantiate your own argument in this essay. Your essay must be based solely on the assigned readings and lectures to date (through Week Four); do not use outside sources.
From the writings of Adam Smith to the contemporary work of Milton Friedman, the tradition of free-market political economy has exerted significant influence. Evaluate its central claims in light of the critiques of two of the following: Keynes, Marx, Polanyi, or Lindblom.
More specifically:
1) Briefly state the core ideas of the free-market tradition, drawing on Smith and/or Friedman.
2) What does each of the two critics you have selected take to be its central problems?
3) In your view, how valid are these critiques, and why? (Note that you may draw on some of the historical material covered to date to strengthen your argument.)
