Michael Pettis, professor Beijing University
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
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?