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(In those days, steel was a crucial commodity for a well functioning economy).
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In a stable China, where its great resource, its people, are allowed to work and spend money in a reasonably well functioning market economy, the growing place of China in a global economy cannot be legislated away with tariffs, quotas or tax incentives for struggling industries.
The only missing pieces are avatars and a functioning economy.
That is not how a well-functioning economy should work.
I say "sort of" because he defines Ricardian equivalence as the theorem that stimulus does not work in a well-functioning economy which isn't at all what it means to the rest of us, and certainly not what Ricardo meant (for the record, it's the proposition that the timing of taxes doesn't matter for consumer spending, so that temporary tax cuts don't change spending).
Creating a SNB balance sheet mismatch and constraining monetary policy are threats to monetary stability and to the well functioning of the Swiss economy.
Smart regulation is critical to a well-functioning economy.
Securitization may need to be reformed a little, but it remains critically important to a well-functioning economy.
In a well-functioning economy, one would have expected the low cost of capital to be the basis of healthy growth.
The case was a battle between those who would privatize good health, making it a privilege to be enjoyed in proportion to wealth, and those who see it as a right for all — and a central component of a fair society and well-functioning economy.
To object to this way of picturing the relationship between citizens, their property, and their government is not to deny that the infrastructure of security, property and law maintained by government is necessary for a well-functioning economy that generates good jobs and decent incomes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com