SAN FRANCISCO - Today, the "market" is said to be either utterly triumphant or a grave threat. Politicians everywhere quest for a "third way" around its rigors, yearning for "national champions" in industries like telecoms capable of holding off globalization. The market, however, is simply a mechanism that can be mobilized for any number of purposes. Depending on the way it is used, the market may contribute to social and economic development or inhibit it.
SAN FRANCISCO - Today, the "market" is said to be either utterly triumphant or a grave threat. Politicians everywhere quest for a "third way" around its rigors, yearning for "national champions" in industries like telecoms capable of holding off globalization. The market, however, is simply a mechanism that can be mobilized for any number of purposes. Depending on the way it is used, the market may contribute to social and economic development or inhibit it.