Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor. (Ha-Joon Chang)

Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.

Ha-Joon Chang

Related topics

american bit enterprise free gore once policy poor rich scale socialism system writer global keynesianism monetarism

Related quotes

Civil rights for all Americans, black, white, red, yellow, the rich, poor, young, old, gay, straight, et cetera, is not a liberal or a conservative value. It's an American value that I would think that we pretty much all agree on.
Jerry Falwell
So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.
Milton Friedman
The failure of national economic policy is costing us more than jobs; it has begun to weaken that uniquely American spirit of risk-taking, large ambition, and optimism about the future. We must rally them now to bold departures that rebuild our national morale as well as our material prosperity.
Mitch Daniels
There are some who question the scale of our ambitions, who suggest that our system cannot tolerate too many big plans. Their memories are short, for they have forgotten what this country has already done, what free men and women can achieve when imagination is joined to common purpose, and necessity to courage.
Barack Obama
If my career continues along its current arc, people will probably look at me and see a writer who is obsessed with the relationship between rich and poor and with how the rich somehow or other always manage to betray the poor, even when they don't mean to.
Richard Russo