The grabbing hand

Article Abstract:

There is a debate between those who favor government intervention in the economy, and those who argue that the private sector performs best if left alone, but there is an alternative. Governments may seek to promote their own self-interest. There is little literature on how government intervention could be improved, as opposed to abolishing it. Chicago University's Robert Vishny and Harvard University's Andrei Shleifer have examined the issue and they argue for a better alignment of private and public interests.

Government spending policy

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Helping hands, grabbing hands

Article Abstract:

Governments intervened in the economy after the 1930s in order to tackle the problem of unemployment, which had serious political consequences. There was a long boom in developed economies between 1950 and 1973, wheh public spending was not as high as in later years and there was a drive toward freer trade. Keynes was an important influence on economic policy after 1945 and he aimed to control the economy using fiscal policy. Followers of Keynes misused his ideas and this led to problems such as budget deficits.

Fiscal policy, 20th century AD, Keynes, John Maynard

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Grabbing back the revolution: Romania

Article Abstract:

Local elections in Romania indicate that the popularity of the governing National Salvation Front is waning. The party is becoming divided between communists and reformers who want progress towards a market economy.

Management, Romania, Political aspects, National Salvation Front (Romania)

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