Making Rich People Richer Doesn't Make The

Democracy And Markets Are Both Fundamental Building Blocks For A Decent Society. But They Clash At A Fundamental Level. We Need To Balance Them.

All The Alleged Key Causes Of Soe [state-owned Enterprise] Inefficiency - The Principal-agent Problem, The Free-rider Problem And The Soft Budget Constraint - Are, While Real, Not Unique To State-owned Enterprises. Large Private-sector Firms With Dispersed Ownership Also Suffer From The Principal-agent Problem And The Free-rider Problem. So, In These Two Areas, Forms Of Ownership Do Matter, But The Critical Divide Is Not Between State And Private Ownership - It Is Between Concentrated And Dispersed Ownerships.

Corruption Often Exists Because There Are Too Many Market Forces, Not Too Few.

Rich Countries Have 'kicked Away The Ladder' By Forcing Free-market, Free-trade Policies On Poor Countries. Already Established Countries Do Not Want More Competitors Emerging Through The Nationalistic Policies They Themselves Successfully Used In The Past.

Between The Great Depression And The 1970s, Private Business Was Viewed With Suspicion Even In Most Capitalist Economies. Businesses Were, So The Story Goes, Seen As Anti-social Agents Whose Profit-seeking Needed To Be Restrained For Other, Supposedly Loftier, Goals, Such As Justice, Social Harmony, Protection Of The Weak And Even National Glory.