There is one thing about recent business behaviour that has worried me a little, but so far it seems to be mainly confined to the United States. I am referring to the practice by companies of announcing large lay-offs of employment whenever a downward earnings revision occurs.
The historical record of such approaches does not offer much encouragement. One would be hard pressed to cite examples of free and prosperous societies that shunned the marketplace. Contrary to much current opinion, developing countries need more globalization, not less. Such a course would likely bring with it greater economic stability and political freedom.