Step back for a moment, and the suggested policy change is remarkable. One of the most distinguished living economists is rejecting what’s been one of the most fundamental principles of economics for more than 200 years: comparative advantage. If a country can manufacture goods at lower costs than you can, you shouldn’t raise tariff barriers. Instead, you should import the goods, and send back something in return where your industry is more efficient.
This is nonsense. China (or the US) didn't get where they are with free trade.
ikr, embarrassing. corporate propaganda works i guess.
i do wonder about the sampling bias. usually these surveys bias towards urban college educated top 25% upper caste people, they should ask lowest income quartile.
Every moment of meaningful change in modern British politics begins with the realisation that politics must act in service of the British people, rather than dictating to them. Margaret Thatcher sought to drag Britain out of its stupor by setting loose our natural entrepreneurialism. Tony Blair reimagined a stale, outdated Labour Party into one that could seize the optimism of the late 90s. A century ago, Clement Attlee wrote that Labour must be a party of duty and patriotism, not abstract theory. To build a “New Jerusalem” meant first casting off the mind-forged manacles. That lesson is as true today as it was then.
And on top of that the Government is limiting fiscal deficit, no public sector to take on the foreign sector slump. Neoliberalism is a disease.
In China meanwhile, when a recession occurs in the west the government increases domestic spending to lessen the impact. India should learn a thing or two from its neighbor.
Yet, even in those trade negotiations, India has been relatively less liberal than in the era predating Modi — angling for more state control over sundry policy issues and seeking to limit the exposure of many of its sectors to foreign competition. If India wants to attract foreign investment, it might have to change tack.
They are complaining that there are too many regulations lmao.
History has shown that export promotion policies in absence of heavy state intervention doesn't work.
British media are such cucks. They call him "Lord" Cameron.