The social economy of the marketplace

An economy will function adequately when there is an operational framework for the market and the private sector, says an Argentine economist during a recent visit to Guatemala.

Monday, June 23, 2008

Marcelo Resico, an economist with the Catholic University in Argentina, said the social economy of the market should focus on the principals, institutions and concrete economic policies that are based on the central idea that the concepts of liberty, solidarity and subsidiarity are complementary.
It works on the basis that the economy functions adequately when there is an operational framework for the production of goods, services and profits in the private sector, alongside a framework that generates conditions of fair competition, and that takes into account the distribution of benefits. This is especially important for countries with widespread poverty.
Dr. Resico said the neo-liberal model that postulates that small government is always the best government isn't necessarily the way to go.



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