Word: laissez
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...based on the incorrect notion that Asia's success is the product of intrusive governments. In the 1980s, when Japan was Asia's rising giant, some said its state-led economic system, in which bureaucrats "picked winners" by targeting industries for special support, was better than the more laissez-faire practices of the West. Today, pundits see China's "state capitalism" as the contender for global dominance. The heavier hand of the Chinese government, this thinking goes, acts as a source of strength in hard times while firmly guiding the nation into the industries of the future. China's vibrancy...
...German Chancellor Angela Merkel, the new year has gotten off to a dismal start. During the past week, several members of her party, the Christian Democratic Union (CDU), have publicly laid into her laissez-faire leadership style, claiming it has weakened the conservative party's base. And Foreign Minister Guido Westerwelle, leader of the CDU's partner in government, the Free Democratic Party (FDP), has challenged her government's stances on key foreign policy issues, namely German troop levels in Afghanistan and Turkey's long-delayed bid to join the European Union...
...global heritage," French Culture Minister Frédéric Mitterrand told the Journal du Dimanche following a meeting of his E.U. peers in late November to discuss a united, state-led approach to the matter. "I'm not going to leave this issue up to simple laissez-faire." (See the top 10 gadgets...
...holder. Melodramatic, yes, but Rand didn't have time to be subtle. She had millions of people to convert to objectivism, her philosophy of radical individualism, limited government and avoidance of altruism and religion. Her adoring followers--some called them a cult--revered her as the high priestess of laissez-faire capitalism until her death...
...less familiar historical moments that also have unmistakable resonance with the present. We've just finished living through a long Gilded Age, in which rich Americans got richer, and more and more people began consuming conspicuously. The original Gilded Age began a century earlier, in the 1870s, during a laissez-faire boom that lasted - déjà vu! - from the end of one Wall Street and banking meltdown (the Panic of 1873) to the beginning of another (the Panic...