The Best Way To Boost The Economy

The History Of Capitalism Has Been So Totally Re-written That Many People In The Rich World Do Not Perceive The Historical Double Standards Involved In Recommending Free Trade And Free Market To Developing Countries.

Once You Realize That Trickle-down Economics Does Not Work, You Will See The Excessive Tax Cuts For The Rick As What They Are -- A Simple Upward Redistribution Of Income, Rather Than A Way To Make All Of Us Richer, As We Were Told.

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.

Manufacturing Is The Most Important...route To Prosperity.

As South Korea Shows, Active Participation In International Trade Does Not Require Free Trade. Indeed, Had South Korea Pursued Free Trade And Not Promoted Infant Industries, It Would Not Have Become A Major Trading Nation. It Would Still Be Exporting Raw Materials (e.g., Tungsten Ore, Fish, Seaweed) Or Low-technology, Low-price Products (e.g., Textiles, Garments, Wigs Made With Human Hair) That Used To Be Its Main Export Items In The 1960s.