U.S. capitalism was and mostly still is understood as a natural system and not one that was and is socially constructed by government policy.[…]
“Free markets” must be one of the most overused expressions in the English language. Stated bluntly, there are no free markets in organized capitalism. All of the so-called freedoms in capitalism are conditional freedoms, and that conditionality is established by, legitimated by, and ultimately regulated by, government. But this conditionality has never been made a clear teaching priority in the 50 years that I have frequented the halls of the Harvard Business School.