O Intermitente<br> (So long, farewell, auf weidersehen, good-bye)

O Intermitente
(So long, farewell, auf weidersehen, good-bye)

segunda-feira, agosto 25, 2003

NEO-LIBERALISMO (via Dissecting Leftism)


    "Over the past 10 years, the quantity of goods and services produced by the economy has expanded at a rate averaging just under 4 per cent a year - a performance not seen since the 1960s and early '70s.

    How did we achieve that? How was it possible to produce 4 per cent more than we produced the previous year, then 4 per cent more than that the next year and 4 per cent more again the year after?

    ...Got it in one: the effects of micro-economic reform. According to Dr Parham, these policy reforms improved productivity in three ways.

    First, by sharpening incentives to be more productive, chiefly by strengthening competition from domestic and overseas sources. Second, by opening the economy to trade, investment, technologies and know-how developed overseas.

    And, third, by providing greater flexibility (for example, less regulatory restriction and a more flexible labour market) to adjust production processes and firm organisation to improve productivity.


    "The majority of people own things outside the legal system, under customary devices that I call extra-legal law, which encompasses all forms of arrangements that are not codified or do not operate within the law. If you go to any village in the Amazon or any small town in Egypt, it is very clear who owns what and who has transacted with whom, but only at the level of the town. It is a little market economy that ranges maybe no more than five or ten city blocks. There is no way for transactions to occur on a national—much less, global—scale. In other words, throughout the Third World and the former communist nations, there are thousands of little market economies that cannot be interconnected and, therefore, cannot join that larger market economy within which the division of labor is possible...

    ...the traditional reforms associated with establishing a capitalist system—monetary stability, fiscal equilibrium, privatization—are definitely not enough. What makes the capitalist system function well in the United States, Western Europe, Japan, and the four Asian tigers is a very good property and transaction legal system. As both Adam Smith and Karl Marx explained, what gives the market economy system its power is essentially the wide-spread division of labor, what we today call specialization. Specialization has been possible in the Western world throughout these last two centuries because of the ability of specialists to create and exchange capital among themselves, and that ability exists because the West has good property law, which allowed for good market transactions. For at least 70 to 80 percent of the world’s population, for former communist nations and developing countries, a legal system allowing for the definition of property rights and their transaction in an orderly market is not in place."

posted by Joao 4:29 da manhã

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"A society that does not recognize that each individual has values of his own which he is entitled to follow can have no respect for the dignity of the individual and cannot really know freedom."

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