A Quote by Vladimir Putin
It is true that the role of the state in the Russian economy may be too big today, but from the fiscal standpoint, it is not always practical to do this in a falling market.
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Market fundamentalists recognize that the role of the state in the economy is always disruptive, inefficient, and generally has negative connotations. This leads them to believe that the market mechanism can take care of all the problems.
Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.
There is no need for the Russian state to hold such large stakes and we do intend to put our plans into practice. It is not about whether we want it or not, it is about this being practical or not and the best timing. In general, it is practical from at least one point of view - from the point of view of structural changes in the economy.
The parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.
Today it's fashionable to talk about the New Economy, or the Information Economy, or the Knowledge Economy. But when I think about the imperatives of this market, I view today's economy as the Value Economy. Adding value has become more than just a sound business principle; it is both the common denominator and the competitive edge.
In the Russian experience, although the Russian state is oppressive, it is their state, it is part of their fabric, and so the relation between Russian citizens and their state is complicated.
The Keynesian idea is once again accepted that fiscal policy and deficit spending has a major role to play in guiding a market economy. I wish Friedman were still alive so he could witness how his extremism led to the defeat of his own ideas.
The socialism of centralised state control of industry and production, is dead. It misunderstood the nature and development of a modern market economy. It failed to recognise that the state and public sector can become a vested interest capable of oppression as much as the vested interests of wealth and capital. it was based on a false view of class that became too rigid to explain or illuminate the nature of class division today.
This dilettante notion that the global economy is evil because big corporate leaders make too much money... they do make too much money, but the only way we've figured out how to generate wealth in this world is through the market economy.
The industry has always had a problem with the 18-to-25 market, but EDM is perfect - a unique identifier for a group in that mental and fiscal state; in their youth, but free to do whatever they want. We filled that void.
Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.
The strong economy means there is fiscal firepower and we need to use that to show people the benefits of the free-market system.
A wide range of possible fiscal policy tools and approaches could enhance the cyclical stability of the economy. For example, steps could be taken to increase the effectiveness of the automatic stabilizers, and some economists have proposed that greater fiscal support could be usefully provided to state and local governments during recessions.
The Middle East would always be an important trading partner in just a market sense, like America is a big market for us, Asia is a big market, Europe is a big market. You are going to have hundreds of millions of consumers there, from just a standard market point of view, from a very narrow American point of view.
Visas represent one bureaucratic obstacle, so to say and, if removed, might increase the inflow of Russian money into the Czech economy. And not only Russian money, but Russian tourists, Russian entrepreneurs and so on.
The market is fast-moving, fast-growing. Things that are true today may not be true tomorrow.
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