Ask the student to explain what a capital market is. The Journal reports on economic freedom around the world. Notice which countries are labeled as being economically most free. Dr. Lingle argues that the East Asian economies are insufficiently responsive to the demands of a global market place. A truly free economy is one in which voluntary exchange takes place with no arbitrary interference by government officials.
People trade with other people for goods or services that they value.
The lesson to be learned is that interference with the free functioning of markets and the price system is what causes economic crises, not the market itself.