La economía no miente. Éste es un dato objetivo. Es, además, el título de este libro en el que Guy Sorman argumenta por qué "sólo hay una economía acertada: la que funciona". Ésa es la economía liberal, la economía de mercado; es decir, la que impulsa el crecimiento con competencia, instituciones sólidas, libre comercio, moneda estable, innovación, formación y un Estado del bienestar eficiente. La economía socialista se hundió porque "en el socialismo el Estado hace como que paga a los trabajadores y éstos hacen como que trabajan". Sorman analiza qué economías funcionan, cuáles no, y cuáles funcionan sólo a ratos. Lo hace con un repaso a lo acontecido en los últimos años en países como Argentina, Chile o Brasil en Latinoamérica; China, las dos Coreas, Japón, India y Taiwán en Asia; Rusia y el bloque del Este tras el desplome soviético; Turquía, y, por supuesto, Europa y Estados Unidos. La economía no miente avisa de los riesgos de la actual crisis: "Hay algo peor que eludir la realidad; la intervención pública a destiempo puede hundir una economía en la depresión". El motivo de los errores es conocido: "En tiempos de crisis suele resurgir el pensamiento mágico y borra la racionalidad alcanzada; la demagogia y el pánico pueden anular las enseñanzas de la ciencia económica."

Some have called Guy Sorman a ‘Cultural Economist’, and this set of thoughts certainly validates that classification. But it is chiefly a work of ‘Political Economy’ in the classic sense of that term. The 2009 English edition is an expansion of his “A Economia não Mente” which was written in 1999 to support his work guiding Brazil’s government away from inflation and into a period of solid economic growth. The expansion includes some of the happenings of the 2008-2009 financial crises.

The work is valuable to a layman as well as being of interest to an economist. An economist may find it of less value since it does not use charts, formulas, or mathematics. But its lack of depth is made up for by bredth of vision, and for both it will certainly provide matter for thought. The primary subject matter, however, does not match the title. What he does deal with are the conditions that promote economic growth, and the Free Market is only one of these conditions.

To me, after careful consideration, the outlook presented is both promising and limiting. A free market may be necessary for my view of American values, but by itself is not sufficient. Our views also differ since Sorman is very much a Frenchman while I am an American. Sorman’s depiction of growth in China and Russia shows that both yielded results I’d rather not encounter. His view of Economics as a mature science appears correct, but that science may not be used by government economists. And as another reviewer noted, Economics does not lie, but Economists may.

The limiting thoughts stirred by reading this book still conflict with personal preconceptions. These two views might best be illustrated by an analogy. I look for the primary value of free institutions as a value for the innovator or entrepreneur, who is central to the process. An elite view might see that entrepreneur as a farmer sees a horse: necessary to productivity and to be cared for and not overworked. The farmer’s horse may indeed be better off than a wild one: the barn is better than the storm, feed is assured, and the veterinarian called when needed. The farmer may even love him, but the horse is not FREE.

In seeking to better understand economic growth and its effect, I have read no more important work. ( )

For Ed Feulner with warm wishes. Guy Sorman.