“Outside of the financial sectors in the United States and Europe, capitalism is more prominent than ever. Country after country is reducing the scale of its public enterprises and expanding the scope of the private sector. For the first time in almost 70 years, Mexico has opened it oil and other energy sectors to greater participation by private firms. The new leaders of China have expressed dissatisfaction with the performance of public enterprises, and have called for greater participation by private firms in many sectors, including financial markets.
The formerly mainly socialist government of the very poor nation Rwanda has been encouraging private companies to increase its role in the limited landlocked Rwanda economy. India is trying to reduce its many labor market and other regulations so that direct foreign investments will increase in India, and its own private firms will expand their activities. On the other side of the ledger, nations like Venezuela that has conducted a war on the private sector has seen poverty grow and its economy stagnate.
The reason behind these pro-capitalist activities is that more and more countries have realized that despite is many flaws, capitalism is the only system yet devised that brings hope of lifting the masses out of poverty and creating a robust middle class. Most people realize this, and have prevented political leaders from using the reaction against capitalism brought on by the financial crisis to try to radically transform a system that has brought so much wealth and health to the peoples of the world.”
Posts
No comments:
Post a Comment