Macroeconomic Monitor
Начало / Икономика (страница 78)

Economy

What should we expect from the state?

The main requirement for the state is to be an impartial machine, whose driving force is the legal framework. The possibilities of state intervention must be strictly defined, and its perimeter of action - limited.

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Another balloon

The student loan bubble in the United States was born out of shortsighted education policies. After the last administration tried to equip every American household with their own home (without much success), the goal is now for every American to receive a higher education.

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Private initiative in China

Perhaps Deng's most important move was decollectivization. The process freed up the labor force—those left outside the "iron rice bowl" system—without work and income. They were the free resource that private initiative in the country needed.

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