1930s Germany and Soviet Union,
China uses the Gerschenkron’s model
The model postulates that the more backward an economy is at the outset of economic development, the more likely certain conditions are to occur: Special institutions, including banks or the state, will be necessary to properly channel physical capital and human capital to industries. Gerschenkron’s model
Here in Canada when someone asks a financial institution for a loan we have companies such as Equifax to check credit worthiness. We also have laws that govern if you default, what happens. In China, government involvement seems to have no bounds.
Small and large companies can go bankrupt if they do not pay back money owed. We have bail bondsmen that will repossess cars, boats and other movable objects.
Xavier Ovando of Montreal uses a two-plunger ear protection to protect his hearing during a Montreal protest march. Maybe more Canadians should join him.
We in Canada are not prone to protest. On the contrary we Canadians are more pacifists, and some say worse, that we have no backbone. Maybe the current economic recession will help change our attitudes. Our young people are getting slaughtered when they leave school, and what should they do? Be passive and simply accept it? No, this cannot do. It was interesting to me when average Canadians started taking up the cause of Quebec students, who are protesting tuition fee increases. Do they belie a more significant rot in our society? Should we average Canadians in the rest of Canada join?
