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Pastimes : Ask Mohan about the Market
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To: Thomas M. who wrote (16563)9/29/1998 8:24:00 PM
From: Dayuhan  Read Replies (2) of 18056
 
Tom,

<<there was more of a power structure in place to enforce the law>>

Very true. Capitalism needs more than capital markets, it needs a political structure capable of enforcing basic rules. Otherwise you get what the Russians have now, an economy dominated by organized crime. We should have been there helping to organize an intelligently phased transition to a market economy, taking at least a decade. Instead we sang "ding, dong, the witch is dead", and sent in the carpetbaggers. Bad move.

The Chinese are doing a much better job of moving out of communism.

Steve
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