October 9, 1989 |
Across Latin America, governments are throwing out their welfare-state economic recipes and reaching for free-market textbooks to escape the devastation of the region's "Lost Decade." As the 1990s approach, the trend from Mexico to Argentina is toward cutting deficits and opening up stilted economies. There are only a few holdouts, such as Peru and Brazil, but coming presidential elections appear likely to bring those countries aboard as well.
March 28, 1991 |
Eastern Europeans today talk about capitalism much the same way that American teen-agers talk about sex: with growing anticipation, excitement and a tone of bravado that's not quite endearing. What's arousing the greatest passions, however, is how best to manage the painful transition from socialist control to market forces. What should happen to all those state-owned, state-run monopolies that produce the food, steel and automobiles? Who should own them? The people or foreign investors?
October 3, 1992 |
Transforming Russia into a nation of property holders--such is the ambitious goal of the government program launched two days ago from Murmansk to Magadan. What's going on, and what's at stake? Here are answers to common questions: Question: What is a voucher? Answer: It is a piece of paper that gives the bearer the right to purchase a chunk of the Russian economy. It is colored blue and beige and bears an image of the Russian "White House," or government headquarters.
March 20, 2008
Re "Fed takes on a wider role," March 18 The fallout from the sub-prime meltdown is American capitalism in a nutshell. A huge investment bank that gets burned making risky plays in unsustainable mortgages is entitled to a low-interest federal loan. An individual who did the same thing is simply out of luck. Suzanne Zizzi Sherman Oaks
October 15, 1995
Reading Robert Eisner's article and letter ("Should Government Be Made Smaller--or Just Made Better?" and "Senators Missed Point on Social Security," Sept. 17) deepened my worry about the future of capitalism. While I am grateful for the benefits delivered to me by capitalism, I do not make the mistake of concluding that happiness now predicts happiness later. What about life 120 years from now--assuming we have an interest in the lives of our great-grandchildren's great-grandchildren?
April 27, 1991 |
Pope John Paul II has written a major document that urges the capitalist world to reflect on its responsibilities toward poorer nations. The pontiff timed the ninth encyclical of his 12-year-old papacy to coincide with the 100th anniversary of Pope Leo XIII's "Rerum Novarum," the first major encyclical on social issues. Although the new encyclical has not been made public, its contents have been described in general terms by the Pope himself and officials who have seen it.
February 5, 1991 |
It was freezing in the Soviet Union late in January. Food was scarce in some places, and the forces of reaction seemed to be gaining. These factors apparently did not account for the presence here in sweet and balmy San Francisco of five members of the Leningrad City Soviet, whose week of meetings and seminars culminated in an extraordinary luncheon in the plush dining room of Baker & McKenzie, which bills itself as the world's biggest law firm.
November 27, 1988 |
Ten years after China began its economic reforms, it has put its most authoritative stamp of approval on them--Mao Tse-tung's family has gone into business, the China Youth Daily said Saturday. In Shaoshan in south China's Hunan province, Mao's birthplace, members of the late leader's family have opened the Mao Family Restaurant, which serves several hundred customers daily--most of them tourists. The newspaper said the restaurant has four employees.
July 3, 1987 |
Even Karl Marx would probably be converted by the 490-page manifesto to capitalism that Forbes, the ever-eager Capitalist Tool, has produced to mark its 70th birthday. Thickened with 302 ad pages worth $10.5 million in revenue, the issue is rich with raw data, economic concepts, historical perspective and passionate arguments for free markets, freer trade and less government economic regulation.