Word: free-market
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...There is an irony to how the ostensibly free-market U.S. has just signed off on a $787 billion stimulus package - equivalent to about 5.5% of total GDP (2.0% for 2009) - while the supposedly interventionist E.U. has struggled to scratch together programs worth 0.9% of its total GDP. The E.U.'s reticence is partly due to fears that piling up debts and deficits to fight the collapse in output and jobs could destabilize the euro zone. It also reflects Europe's confidence that its economies are more resilient to the banking and housing collapses that have hit the U.S., while...
...OZAWA: Well, we have no intention of going back to the traditional system. We have to incorporate free-market competition into the lifetime employment system. But we need to keep the good aspects and benefits of that old system so that we can mix them together...
...Since World War II—even during the supposed libertarian love-fest and free-market free-for-all of the 1980s—states have invested in their people as well as forsaken integration and cooperation when prudent. Market intervention has always been part of the globalization process. But, too often, the market is viewed as a multilateral institution and the state as a pesky force of isolationism. Despite this false perception, we should continue to see global cooperation and so-called “nationalistic” government action in tandem for the foreseeable future. They?...
...differences” and the relative complexity of our banking system make the model unfit for America. However, only the 19 biggest banks would be up for government receivership. Moreover, keep in mind that the FDIC takes over small banks all the time. Even Alan Greenspan, the image of free-market capitalism as Federal Reserve chairman from 1987 to 2006, has acknowledged that, “once in a hundred years, this is what you do.” Now is certainly looking a lot like one of those times...
Even in China, where state censorship directives are dispensed daily to newspaper editors, a press revolution is under way. Over the past decade, the central government has started weaning newspapers off state subsidies. The free-market reality has forced editors to print stories that sell. While the People's Daily, the Chinese Communist Party's official mouthpiece, still publishes numbing headlines like "China-Mali Ties in Continuous Development," other newspapers are attracting readers by delving into corruption scandals and celebrity sex lives. Low Internet penetration throughout much of Asia ensures that it is newspapers - not computer or cell-phone screens...