Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Tuesday, April 12, 2005

Markets and Corruption

There is a strong case to be made that when gubmnts support the use of markets, there is considerably less opportunity for corruption. Here is a recent example from Mexico (h/t to BF for the link). The article is about another topic:
A vote by Mexico's congress to strip leading presidential candidate Andres Manuel Lopez Obrador of immunity from prosecution over a minor public-works matter has laid bare the brutal battle to succeed President Vicente Fox in next year's election. ...
But innocuously tucked away in the middle of the article is this:

Alejandro Hope, a political analyst with the GEA consulting group, said market-oriented economic changes over the last 15 years have eliminated much of the potential for payoffs and influence-peddling.

"It's not that Mexico is cleaner, but there is less opportunity to engage in corruption," he said.

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