But most services require goods or people to travel in two directions, adding time and cost.
Valentin Gatskoцитирапреди 5 години
In short, productivity gains in services are inherently slower than in manufacturing because there is greater dependence in the former on people and on enhancing human skills
Valentin Gatskoцитирапреди 5 години
See Klaus Deininger and Lyn Squire, ‘New Ways of Looking at Old Issues: Inequality and Growth’, Journal of Development Economics, vol. 57, no.
Valentin Gatskoцитирапреди 5 години
‘They are city states,’ writes Wade, ‘and not to be treated as economic countries.’
Valentin Gatskoцитирапреди 5 години
Freund concludes: ‘Peasants were actually more productive in per-acre use of the land.’
Valentin Gatskoцитирапреди 5 години
Or as Deininger puts it: ‘there is a strong negative relationship between initial inequality in asset [land] distribution and long-term growth’ and ‘inequality [in land distribution] reduces income growth for the poor, but not for the rich’.
Valentin Gatskoцитирапреди 5 години
Once again: there is no significant economy that has developed successfully through policies of free trade and deregulation from the get-go.
Valentin Gatskoцитирапреди 5 години
From micro interventions, however, economic miracles will not spring.
Valentin Gatskoцитирапреди 5 години
Economic development is only one part of a society’s development. The other parts, to do with freedom and the rights of the individual, are no less important
Valentin Gatskoцитирапреди 5 години
Far better to take a page out of Park Chung Hee or contemporary China’s book: make public pronouncements about the importance of free markets, and then go quietly about your dirigiste business.