Democracy Is Acceptable To Neo-liberals Only In

People Who Live In Poor Countries Have To Be Entrepreneurial Even Just To Survive.

It Takes Time And Experience To Absorb New Technologies, So Technologically Backward Producers Need A Period Of Protection From International Competition During This Period Of Learning. Such Protection Is Costly, Because The Country Is Giving Up The Chance To Import Better And Cheaper Products. However, It Is A Price That Has To Be Paid If It Wants To Develop Advanced Industries.

All The Alleged Key Causes Of Soe [state-owned Enterprise] Inefficiency - The Principal-agent Problem, The Free-rider Problem And The Soft Budget Constraint - Are, While Real, Not Unique To State-owned Enterprises. Large Private-sector Firms With Dispersed Ownership Also Suffer From The Principal-agent Problem And The Free-rider Problem. So, In These Two Areas, Forms Of Ownership Do Matter, But The Critical Divide Is Not Between State And Private Ownership - It Is Between Concentrated And Dispersed Ownerships.

A Well-designed Welfare State Can Actually Encourage People To Take Chances With Their Jobs And Be More, Not Less, Open To Changes.

Between The Great Depression And The 1970s, Private Business Was Viewed With Suspicion Even In Most Capitalist Economies. Businesses Were, So The Story Goes, Seen As Anti-social Agents Whose Profit-seeking Needed To Be Restrained For Other, Supposedly Loftier, Goals, Such As Justice, Social Harmony, Protection Of The Weak And Even National Glory.