Gregory Mankiw, a professor at Harvard University said:"It is almost inconceivable that the political process will be good at corporate governance. The most one can hope for is that this period will be temporary, that the federal government will well off its equity stake to private investors as soon as possible."
It is the mix of public sector and the private sector in the American economy. It is always a matter of degree, not in essence for the two sectors in America or in China as well.
Some economists point to Europe as an ominous example of state ownership. "In Italy, we did that in the 1930s and it took until the mid-1990s to sell them back" said Luigi Zingales, a finance professor at the University of Chicago.
The combo of two sectors has been in evidence in Europe for decades.
Francis Shieh aka Xie Shihao,a lifelong student of economics with awareness of the private sector and public sector to be working for the best interest of the nation.
April 29, 2009 at 7.22 p.m.
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