A Quote by Ha-Joon Chang
Many people think that the U.S. is ahead in the frontier technology sectors as a result of private sector entrepreneurship. It's not. The U.S. federal government created all these sectors.
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If the private sectors are about markets and the public sectors are about governments, then the plural sector is about communities.
The vast majority of Americans are employed in service sector industries, and many of those sectors are highly internationalized. The most high-value added sectors, notably the tech sector, is massively globalized. And, for them, it would be a disaster if America's trade policy was to go down a spiraling route towards protectionism.
As with so many sectors of the economy, technology is transforming the retail banking sector.
We should raise fierce flames of innovations in the vanguard sectors, basic industrial sectors, and all other sectors of the national economy.
Uganda's budget is 40 percent aid-dependent. Ghana's budget is 50 percent aid-dependent. Even if you cancel the debt, you don't eliminate that aid dependency. This is what I mean by getting to the fundamental root causes of the problem. Government, the state sectors in many African countries need to be slashed so that, you know, you put a greater deal of reliance on the private sector. The private sector is the engine of growth. Africa's economy needs to grow but they're not growing.
Look at Microsoft, Google, and Facebook. They have all entered many sectors, and actually, in many of those sectors, they weren't as early as Tencent.
It's only in America where there seems to be this sort of systematic denial of the reality of global warming at the governmental level, and in too many sectors of the high, the private sector. But it looks to me the business community may actually lead us toward a clean energy future almost in spite of government policy.
The Russians are clearly already engaged in a proxy war against the government of Ukraine. And that is something that we and the rest of the world have actively condemned and sanctioned Russia already heavily for, particularly the United States, as we have imposed now meaningful, tough sanctions in critical sectors, including the defense sector, the financial sector, and the energy sector.
Koch Industries is an amazing business that has succeeded by building a product that customers love dearly. The folks who run Koch are very clear. They would love to have government just get out of the way and allow companies to compete, whether in their particular sectors or other sectors. They are true believers in small government.
In World War II, the government went to the private sector. The government asked the private sector for help in doing things that the government could not do. The private sector complied. That is what I am suggesting.
I believe the private sector and small businesses drive our economy, and that means the federal government should work to ensure the private sector is as robust as possible.
We need the private sector's help, because government is not innovating. Technology is running ahead by leaps and bound. The private sector will help, just as I helped after 9/11. But they must be engaged, and they must be asked. I will ask them. I know them.
We've got to move beyond the idea that the public and private sectors are at odds. Government has to lay the groundwork for private equity to productively invest in things like education. It's a partnership, not a battle.
I think most people believe success in government is how many fewer people are in government, not because you kick them off of benefits like unemployment but they've been able to control their own destiny because private sector employers have created more jobs.
If you work for the federal government, the average salary is $7,000 higher than the private sector. Something's wrong with that, when you're making more money working for the government than you can working in the private sector.
Leaving the European Union is likely to have an impact on the workforce in sectors such as catering, construction and agriculture. I see an opportunity here for both prisoners and employers, particularly those operating in these sectors.
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