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systems. It connected the value of individual freedom, the commitment to a market society and an appeal to a liberal democracy …
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This paper axiomatizes an index of consumer freedom of choice and applies it to U.S. consumer data from 2004 to 2017 … consumption, the price level, and inequality. We show that this index can be interpreted as the freedom of choice of a … representative consumer allocating a dollar of expenditure to goods. When applied to data, we find that the freedom of choice index …
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