Manufacturing Is The Most Important...route To Prosperity.

People Who Live In Poor Countries Have To Be Entrepreneurial Even Just To Survive.

The Higher Education System In These Countries (us, Korea Etc) Has Become Like A Theatre In Which Some People Decided To Stand To Get A Better View, Promoting The Others Behind Them To Stand. Once Enough People Stand, Everyone Has To Stand, Which Means No One Is Getting A Better View, While Everyone Has Become More Uncomfortable.

There Is A Big Logical Jump Between Acknowledging The Destructive Nature Of Hyperinflation And Arguing That The Lower The Rate Of Inflation, The Better.

Rational Thinking Is An Important Aspect Of Human Nature, But We Have Imagination, We Have Ambition, We Have Irrational Fear, We Are Swayed By Other People, We Get Indoctrinated And We Get Influenced By Advertising.

All The Alleged Key Causes Of Soe [state-owned Enterprise] Inefficiency - The Principal-agent Problem, The Free-rider Problem And The Soft Budget Constraint - Are, While Real, Not Unique To State-owned Enterprises. Large Private-sector Firms With Dispersed Ownership Also Suffer From The Principal-agent Problem And The Free-rider Problem. So, In These Two Areas, Forms Of Ownership Do Matter, But The Critical Divide Is Not Between State And Private Ownership - It Is Between Concentrated And Dispersed Ownerships.