New US paradigm for the times

Ulhas Joglekar uvj at vsnl.com
Thu Aug 1 17:20:28 PDT 2002


The Economic Times

New US paradigm for the times

TUESDAY, JULY 30, 2002

J Bradford DeLong

For most of the past decade the world has been lectured to by Americans who proclaimed the perfection of the US economy: its focus on competition, loose labour regulation, and a modest social safety net, all of which supposedly delivered dynamism and high growth rates.

Europeans were told to follow the US model and liberalise their labour markets, so that businesses that want to hire can do so without losing money and so that unemployed workers who find new jobs won't see their wages offset by cuts in welfare-state benefits.

http://economictimes.indiatimes.com/articleshow.asp?art_id=17498039



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