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Should free-market reforms be gradual or instantaneous?

Many advocates of free markets concede that reforms toward capitalism should be gradual. For example, Yaron Brook said recently about abolishing Social Security, "There is no way to eliminate it tomorrow. There is no way to eliminate it, to go, in a sense, cold turkey." (See: http://www.youtube.com/watch?v=yi5NRZMD0V0) But why not? What's wrong with the "cold turkey" approach? Is the concern simply that the only way to get people to accept reforms is to make them slowly? Or would it be somehow unjust to cut off people's entitlements suddenly, given that they've come to depend on them?

Mikhail , 14.07.2013, 19:25
Idea status: completed

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