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Bailout: A Comparative Study in Law and Industrial Structure
Reich, Robert
Reich, Robert
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Abstract
Economies are like bicycles: the faster they move, the better they maintain their balance. Changes in consumer preferences, technologies, international competition, and the availability of natural resources all require economies to reallocate capital and labor to newer and more profitable uses. Societies that redeploy their capital and labor more quickly and efficiently than others are apt to experience faster growth and greater improvements in productivity.