[ExI] Belief in Market Efficiency

[Stathis Papaioannou]

2009/2/3 painlord2k at libero.it <painlord2k at libero.it>:

> Damien I live in one of these "largely market-oriented nations".
> Sure, they are more market oriented in many ways in respect of other
> nations, but they were much more marked oriented in the past than they are
> now.
>
> For example, Italy (where I live) were much more marked oriented in the from
> the 50 to the 70, when large part of the economic growth happened.
> When the governments started to add reforms after reforms to enlarge the
> welfare, enlarge the health services, bailout of industry after industry and
> services after services, put limits and rules on how people can work, and so
> on, the consequences were a continuous reduction of the GDP growth, enlarged
> public debit, higher taxes and unemployment for the younger, the women and
> the disadvantaged ones.

Why didn't the social democratic government of, say, Germany lead to
economic ruin? Why did the pro-free market policies of Iceland and
Ireland lead to boom then bust? Why didn't the rabidly anti-socialist
policies of numerous US-supported Latin American states lift their
citizens out of poverty?


-- 
Stathis Papaioannou