A Quote by Luis Videgaray Caso
Mexico is a market economy, but we should have better markets.
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Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
Having seen a non-market economy, I suddenly understood much better what I liked about a market economy.
It's important to recognize the vital role that the financial markets play in our economy and that so many of you are contributing to. To function effectively those markets and the men and women who shape them have to command trust and confidence, because we all rely on the market's transparency and integrity. So even if it may not be 100 percent true, if the perception is that somehow the game is rigged, that should be a problem for all of us, and we have to be willing to make that absolutely clear.
Six million jobs in the US depend on trade with Mexico. Ten border states - six in Mexico and four in the United States - combined have the third or fourth largest economy in the world. Twenty-nine US states depend on Mexico as their primary export market.
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
Before you start trying to work out which direction the property market is headed, you should be aware that there are markets within markets.
We can be a very natural partner as a support base for Ireland to use Mexico to enter into the North American and South American markets and for Mexico, in turn, to really take advantage of Ireland as a gateway to the European markets.
In Germany it is good if as many people as possible join initiatives and peaceful demonstrations against the rule of the financial markets. Worshipping the unfettered freedom of global markets has brought the world to the brink of ruin. We now need social and ecological rules for the market economy.
Globalization can be very unjust and unfair and unequal, but these are matters under our control. It?s not that we don?t need the market economy. We need it. But the market economy should not have priority or dominance over other institutions.
I support freedom and I support a free market economy, but it should be a socially oriented market economy. I support globalization, but it should be globalization with a human face.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
In the 40 years I've been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality... Asset markets are in the sky, and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up.
I call this the Fundamental Problem of Political Economy. How do we limit the power that idiots have over us? ... [Milton] Friedmans insight is that a market limits the power that others have over us; conversely, limiting the power that others have over us allows us to have markets. Friedman argued that no matter how wise the officials of government may be, market competition does a better job of protecting us from idiots.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier. Banks didn't do that
It is eminently possible to have a market-based economy that requires no such brutality and demands no such ideological purity. A free market in consumer products can coexist with free public health care, with public schools, with a large segment of the economy -- like a national oil company -- held in state hands. It's equally possible to require corporations to pay decent wages, to respect the right of workers to form unions, and for governments to tax and redistribute wealth so that the sharp inequalities that mark the corporatist state are reduced. Markets need not be fundamentalist.
A free-enterprise economy depends only on markets, and according to the most advanced mathematical macroeconomic theory, markets depend only on moods: specifically, the mood of the men in the pinstripes, also known as the Boys on the Street. When the Boys are in a good mood, the market thrives; when they get scared or sullen, it is time for each one of us to look into the retail apple business.
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