Countries Are Poor Not Because

Corruption Exists Because There Is Too Much, Not Too Little, Market.

There Is A Big Logical Jump Between Acknowledging The Destructive Nature Of Hyperinflation And Arguing That The Lower The Rate Of Inflation, The Better.

The Days Are Over When Technology Can Be Advanced In Laboratories By Individual Scientists Alone. Now You Need An Army Of Lawyers To Negotiate The Hazardous Terrain Of Interlocking Patents. Unless We Find A Solution To The Problem Of Interlocking Patents, The Patent System May Actually Impede The Very Innovation It Was Designed To Encourage.

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.

Gore Vidal, The American Writer, Once Described The American Economic System As 'free Enterprise For The Poor And Socialism For The Rich'. Macroeconomic Policy On The Global Scale Is A Bit Like That. It Is Keynesianism For The Rich Countries And Monetarism For The Poor.