There are two reasons why.First, a partial indicator, such as the cost to business of regulatory policy, may be misleading because it ignores the social benefit of having some regulation, be it financial, labour market or environmental.
The development of modern factor markets (land, financial, labour) should be at the core of a rural development strategy for the future.
In May of 2010, sunk by the financial crisis, Labour lost power.
At the height of the financial tumult, Labour regained some of its sense of purpose while the Tories were disoriented.
But with financial sleaze, Labour is in danger of falling into a similar trap to the one that caught the Tories.
Take the latest German-French missive, on December 7th: it speaks of euro-zone action on financial regulation, labour markets, a financial-transactions tax and the harmonisation of the corporate-tax base.
Those incremental adjustments, in politics, corporate law, capital markets, financial regulation, labour law and practices, and much else besides, have altered the incentives guiding society, the economy and politics.
He wrote an excellent general survey of Europe: 1919-1945 (1969), and a series of important articles, starting with one on Hitler's invasion of the Rhineland, and including the Ethiopian crisis and the financial and labour aspects of British rearmament.
Closer commercial ties are driver for change; Cuba is in midst of market-orientated reforms; Cuban economy forecast to grow this year by more than 4%, higher than regional average; however countries remain far apart on financial and labour regulation.
The severe imbalances of the Spanish economy were ignored because Spain ticked the correct boxes according to the orthodoxy of the boom years: fiscal probity, openness to financial flows, labour market flexibility and an acquisitive and outward-looking corporate sector.
Mr Key will seek to adopt a more pro-business policy agenda than the outgoing Labour-led government, although his immediate challenge will be simply to keep the recession-hit economy on the rails and to limit any further fall-out from the global financial crisis.Like Labour before it, National will have to form a coalition government, having failed to win a clear majority on its own.
