tag:blogger.com,1999:blog-600802170849928872.post701942275349858161..comments2023-10-29T15:18:25.355+08:00Comments on de minimis: Laffer Curve + Irish Implosionde minimishttp://www.blogger.com/profile/06478671079348612565noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-600802170849928872.post-77805145445261411652010-11-25T11:18:45.961+08:002010-11-25T11:18:45.961+08:00Reading the article, my conclusion is that free ma...Reading the article, my conclusion is that free markets work but they can only work free as well from cronyism.<br /><br />One can't just depend on the human spirit of enterprise without curbing the human nature of advantaged greed.<br /><br />In the case of Ireland, they lowered taxes and improved human resources to attract enterprises but allowed for backdoor institutional alignments which created market risk perversions.<br /><br />So that once the global crisis exploded, they were just amongst the first to be hit for being in front with full impact of the magnified risks delivered.<br /><br />After all, nectar attracts both bees (enterprises) and bears (market downturns) in business cycles.<br /><br />If we want an irish lesson, lower barriers to enterprises, one of which by lowering taxes, but blow away corruption.<br /><br />As extension, the monitoring mechanism must be transparent, itself an attractor for further investments.<br /><br />Since our imperative is investments and over ninety percent of that will have to come from the private sector, we can easily go the way of Ireland even if we solve the human resource and investibility challenges of our economy - unless we solve the big C problem. And in our case that is all about politics.wallahttps://www.blogger.com/profile/17580252352785040456noreply@blogger.com