Friday, July 31, 2015

China’s Naked Emperors - The New York Times

China’s Naked Emperors - The New York Times:

"Politicians who preside over economic booms often develop delusions of competence. You can see this domestically: Jeb Bush imagines that he knows the secrets of economic growth because he happened to be governor when Florida was experiencing a giant housing bubble, and he had the good luck to leave office just before it burst. We’ve seen it in many countries: I still remember the omniscience and omnipotence ascribed to Japanese bureaucrats in the 1980s, before the long stagnation set in."

'via Blog this'

No comments:

Twitter Updates

Search This Blog

Total Pageviews