Suchergebnisse

Advocates capitalism at its purest where free access & open markets are available to all. Capitalism's bad rap derives from the fact that elites (ie, special interests) oppose broad access to markets as that breeds unwanted competition, & they wield the power to dictate the access of nonelites to serve their interests. What is needed is the right blend of government that is neither too interventionist nor too laissez-faire, no easy feat. However, markets are seen to be spreading anyway, indicating that elite needs have shifted with the opening of borders to goods & capital, fostering a call from domestic elites for market-friendly legislation. The impact of open borders is considered in more detail, taking the Indian automobile industry as an example. Further, open borders can also lead to protectionism, which is detrimental to capitalism. In this light, how to prevent special interest-oriented political action, make capitalism more politically stable in developed countries, & involve developing countries is considered. Three broad policy objectives are suggested & illustrated with examples: maintain open borders, encourage the transfer of productive assets to efficient owners, & provide a new safety net targeting individuals. J. Zendejas