Wednesday, April 7, 2010

Each type of economic activity - "industry" has its own characteristics; thus political theories ..

Each type of economic activity - "industry" has its own characteristics; thus political theories or ideologies that explicitly or implicitly treat all economic activities as the same are IMO too simple and thus faulty in addressing real world problems and situations. For example 1) some "industries" need more regulation, some less, much less than the status quo 2) some activities are better done by the public sector, some (more) by the private one (ie supply and demand).

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BRs
Nick

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