Word: corporatist
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...Shallow corporatist principles—devoid of any purpose except accumulation at all costs—have guided Harvard’s investments and continue to direct its handling of the endowment meltdown. Critical economic decisions are made under a shroud of secrecy; high administrators give vague answers to urgent educational questions; powerless directors are told to freeze hiring and salaries; hard-working, lower-wage staff who make Harvard function are laid off in the worst recession in 40 years by an institution that proudly touts its courses in ethics, religion, and morality...
...windfall profits it has been receiving from high oil prices, Russia's growth rate should be more like 15% than 6%, says Illarionov. Furthermore, Russia runs a clear risk by pegging so much of its economy to the energy sector. Illarionov describes Russia as evolving into "a new corporatist model" - one in which the economy is dominated by monopolistic quasi?state controlled corporations. In addition to Russia's renationalization of the oil industry, in November the country's weapons-trade monopoly, Rosoboronexport, announced it was taking control of Russia's largest auto manufacturer, the formerly privatized AvtoVAZ. The combination...
There is a very real danger of the country that gave the world its first modern revolution turning off politics in a big way, preferring to put its faith in one-issue, corporatist movements like farmers and doctors. Under the Fifth Republic introduced by Charles de Gaulle in 1958, the President is meant to be both the guardian of the nation and its executive leader. But the current contest between the neo-Gaullist Jacques Chirac and the Socialist Lionel Jospin only emphasizes the gulf between the real challenges facing France and the public skepticism that any politician can solve them...
Russia seems to be taking a similar corporatist tack in its free market reforms. As it ignores the needs of small businesses and entrepeneurs, the government is concentrating on converting large military industries to consumer production. Like Chile, Russia will ultimately find this corporatist strategy increases the wealth of its citizens only marginally. The most wealthy members of society will benefit, and some industrial workers will retain their jobs. But the economy as a whole will gain little if the entrepeneurial base remains marginalized...
...CALL CHILE and Russia "capitalist" or "free market" in their reforms ignores the market that really matters. If Russia wants to emulate the economic successes of the United States (or even of Rumania) it should move away from the Chilean corporatist model. The free market, to function well, must be free for all, not just for a select few big businesses chosen at random by bribed bureaucrats...