This article in the Economist stated that America's innovation in the technology market is achieved through regulation, rather than the free market.
I believe that it is the duty of regulators to regulate and of government to govern. Things cannot be left to the "free market" without proper regulation and safeguard.
There can never be a free market. Only a manipulated market. A wise country should strive to balance runaway market forces eg. caused by market speculation and asset bubbles.
Capitalism = market is manipulated by anyone with the financial muscle and leverage (USA). Communism = market is manipulated by the state (Cuba).
There can never be a free market. Only a manipulated market. A wise country should strive to balance runaway market forces eg. caused by market speculation and asset bubbles.
ReplyDeleteCapitalism = market is manipulated by anyone with the financial muscle and leverage (USA).
Communism = market is manipulated by the state (Cuba).