Word: capitalisme
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Meles is also throwing out the textbooks on capitalism to fashion distinctly Ethiopian economic policies. In August his government unveiled a draft program that elicited skeptical grimaces in the West. While the plan opens up road transport and retail trade to private capital, it also maintains government control of the...
The defeated President had no illusions about his fate. Said he: "The Ozal era is over." Thus ended eight years of strenuous economic growth (9.2% last year), in which Ozal opened Turkey to the West, bullied his countrymen into embracing free-enterprise capitalism and, in the course of backing the...
Ozal leaves behind him a bequest that can only benefit Demirel: a national consensus. Says Hasan Cemal, editor of one of Turkey's most influential newspapers, Cumhuriyet: "The clock cannot be turned back. The multiparty democratic system is here to stay. All parties except the fundamentalists make joining the European...
That gloomy assessment reflects one of the great ironies of current events. At the moment when democracy and free enterprise have triumphed over communism in the Soviet Union and Eastern Europe, the U.S. is paying the price of capitalism run amuck. Maimed by the prodigious explosion of debt that characterized...
Reinvigorating the economy will require substantial new investments in all the areas that Gramley mentions. That has already triggered a politically volatile debate about shifting funds from defense to education and other programs to foster long-term growth. But having triumphantly demonstrated the power of capitalism to doubters abroad, the...