Democracy And Markets Are Both

The Widely Accepted Assertion That, Only If You Let Markets Be Will Everyone Be Paid Correctly And Thus Fairly, According To His Worth, Is A Myth. Only When We Part With This Myth And Grasp The Political Nature Of The Market And The Collective Nature Of Individual Productivity Will We Be Able To Build A More Just Society In Which Historical Legacies And Collective Actions, And Not Just Individual Talents And Efforts, Are Properly Taken Into Account In Deciding How To Reward People.

There Are Different Ways To Organise Capitalism. Free-market Capitalism Is Only One Of Them-and Not A Very Good One At That.

In Manufacturing, Where Mechanization And The Use Of Chemical Processes Are Much Easier, It Is Easier To Raise Productivity Than In Services. In Contrast, By Their Very Nature, Many Service Activities Are Inherently Impervious To Productivity Increase Without Diluting The Quality Of The Product.

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

The Korean Economic Miracle Was The Result Of A Clever And Pragmatic Mixture Of Market Incentives And State Direction.