Privatization must come after the liberalization of prices? How on earth can you privatize or denationalize anything if you have no means of assessing the value of assets before offering them on the market?
In many societies the domestic social costs of adjustment to changing patterns of comparative advantage are believed to outweigh the advantages of further trade liberalization.robert gilpin
They want liberalization! I'll give them liberalization. I'll loosen the screws until the Americans beg me to tighten them again.muhammad reza pahlavi
In many societies the domestic social costs of adjustment to changing patterns of comparative advantage are believed to outweigh the advantages of further trade liberalization.
"…in July 1991… with the announcement of sweeping liberalization by the minority government of P.V. Narasimha Rao… opened the economy… dismantled import controls, lowered customs duties, and devalued the currency… virtually abolished licensing controls on private investment, dropped tax rates, and broke public sector monopolies…. [W]e felt as though our second independence had arrived: we were going to be free from a rapacious and domineering state…"
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