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Submitted by anonymous on
It's interesting to note that traditional conditions such as return on investment, interest rates, are necessary but not sufficient for sustained growth. Other factors which do not fit into that model such as big government, big unions and big business - who probably have created barriers for new entrants, are equally important. if rents under the table are high, that makes any significant shift highly improbable. This starts a discussion on good governance and the use of political economy findings. Now that we know about the rents and the big three, what can be done about it? Government is part of the big three, what would it take for it to begin to consider activities that would break the suboptimal equilibrium? Unions were once thought to represent interests of current and future employees, now that they are embroiled in the big three, who is the voice of the employees?