Of the countries where market reforms were imposed from above, the most far-reaching changes came not in dictatorial Chile but in democratic New Zealand. More important, liberalization can come from below rather than above. Paul Gregory and Kate Zhou have made a strong case that one reason the retreat from a planned economy led to better results in China than in Russia is because the former country didnt impose reforms so much as it allowed them to happen: The peasants conducted what amounted to a civil disobedience campaign in the countryside, and the ruling class ratified the peasants victories after the fact. Something similar is taking place in the DIY informal settlements of the Third World, even as the residents of those districts and their Actually Existing Markets sometimes find themselves at odds with governments pushing purported market reforms. reason/archives/2012/07/17/the-mad-dream-of-a-libertarian-dictator
Posted on: Mon, 24 Mar 2014 07:27:04 +0000
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