Free Markets and Estonia

Ever wonder if it is possible for a politically repressed and economically underdeveloped (theoretically and Infrastructurally) small nation to use free-market economics to radically change its very structure and nature and do so in a manner that is utterly successful? Look no further than Estonia.

[Estonia] transformed itself from an isolated, impoverished part of the Soviet Union thanks to a former prime minister, Mart Laar, a history teacher who took office not long after Estonia was liberated. He was 32 years old and had read just one book on economics: “Free to Choose,” by Milton Friedman, which he liked especially because he knew Friedman was despised by the Soviets.

Blogged at Cafe Hayek, and Greg Mankiw

Tierney; Estonia; free market; economics