The Washing Machine Changed The World More

It Takes Time And Experience To Absorb New Technologies, So Technologically Backward Producers Need A Period Of Protection From International Competition During This Period Of Learning. Such Protection Is Costly, Because The Country Is Giving Up The Chance To Import Better And Cheaper Products. However, It Is A Price That Has To Be Paid If It Wants To Develop Advanced Industries.

The Washing Machine Changed The World More Than The Internet.

Culture Changes With Economic Development.

Gore Vidal, The American Writer, Once Described The American Economic System As 'free Enterprise For The Poor And Socialism For The Rich'. Macroeconomic Policy On The Global Scale Is A Bit Like That. It Is Keynesianism For The Rich Countries And Monetarism For The Poor.

The Free Market Doesn't Exist. Every Market Has Some Rules And Boundaries That Restrict Freedom Of Choice. A Market Looks Free Only Because We So Unconditionally Accept Its Underlying Restrictions That We Fail To See Them.