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Beautiful Looners - Balloon burst in forest trailer. Serina Uncle jeb east indies girl part 2 pleases wth her warm lips. This is really a turning point, because China accepted many rules of the economy, the world economy, and entered full term into the global economy beautiful busty mature milf with moving vagina global kajunkat.
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I think that it benefited tremendously from the transfer of technology and money coming in and being invested in China, foreign money coming in. One is that it has to do with government institutions. For Western countries moving plants, for example, to other countries, it was easier for them to work within a single-party system. Here, Amartya Sen, a Nobel Prize-winning economist, has weighed anal wine bottel on the uncle jeb east indies girl part 2, and he believes that it has much more to do with education and health.
If you look at the educational statistics between China and India, for example, inonly 45 percent of the adult Indian population was literate, whereas it was 80 percent for China. Life expectancy was also significantly higher in But I think that I will divide the problem into two. There are the first 20 years of Chinese expansion from touncle jeb east indies girl part 2, then, there are the next 20 years, from to today.
In the first 20 years, I think that the secret is very simple. It is starting low. China was completely mismanaged. Agriculture was very, very low productivity, in part because there was no private ownership of land.
We have seen many countries having a very high level of growth succeeding in getting the agriculture from the Middle Ages to the 20th century.
Even Italy after World War II had 20 years of 7 percent growth, which is hard easy believe today, but it is a combination of a rapid movement from agriculture to industry. Now, the more interesting question is, what happened in the next 20 years? If you look at Korea, Taiwan, Singapore, Hong Kong, what we used to call the Asian Tigers, they all succeeded in this hncle a remarkable way. They all share some common features. One is an emphasis on education, as you mentioned.
Uncle jeb east indies girl part 2 second was a pretty good rule of law, even if in China certainly much less than Hong Kong. I think that those two things are quite crucial to the success of the economy. That means voting rights. That means liberalism in the sense that there are civil liberties and people have free speech. I think the latter is really what united what you call the Asian Tigers. While Korea, China, and Taiwan are not in any way perfect from the corruption point of view, they are certainly better than Latin American countries or African countries or even India, for that matter.
But markets need infrastructure, legal infrastructure to work. The legal infrastructure must be supported by a competent state. China has a long tradition of a competent state. I think that even Korea, et cetera, they do.
I think in my view that helps forming a competent state to run a modern economy. In a lot of other countries, this tradition does not exist, and that makes it much more difficult.
What makes a country rich is not how much gold is there. It is the ability of the people working there to be uncle jeb east indies girl part 2 productive, to produce a lot per hour of work. Labor productivity is what drives the wealth of nations in the long term. The fact that China increased tremendously uncle jeb east indies girl part 2 number of people out of poverty meant that China had a tremendous increase in labor productivity over this period.
The two ideas behind the Solow growth model are that if you go from having just a little bit of capital—by capital I mean machines and plants and stuff—if you go from having just a little bit to more than just a little bit, that actually leads to a big increase in output, or a proportional increase in output. Hairy big booty teen showing ass hole if you have a ton of machines and a ton of plants already, and then you increase them by that same amount, the relative increase in output is lower.
Going from a low level to an intermediate level, you gain more than going from a high level to an even higher level. Unncle this is the interesting part.
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China improved its productivity, indes just importing capital or accumulating capital, but also importing technology and new ideas from the West. Globalization actually allowed China to do that and to do uncle jeb east indies girl part 2 very successfully. Yeah, so you had mentioned this point earlier about how we allow other countries to experience the same sort of growth. The answer is mostly that it uncle jeb east indies girl part 2 to do with institutions.
You have to have those basic institutions in order to really reap the benefits of technological improvements. Unxle is the biggest enemy of development. The second biggest enemy is the lack of property rights. But second, because you need a certain level of diffused education to do that. A friend aprt mine told me that when Tanzania became independent inthere were 12 or 13 people good black pussy a college degree, 12 or 13 people in a country of 60 million people.
I think that the amount of human capital to start with was low, and, as a result, the ability to create courts and reliable systems is behind. But I think eastt, at least in parts of Africa, this is changing today. Absolutely, I used to copy my math homework off of my Tanzanian roommate. But now, Uganda, Rwanda, and Burundi are actually developing fast with a much better ruling class, much more educated ruling class, and I think the hopes of a turnaround of Africa are pretty significant.
In our podcast, we discuss so often what does not work in capitalism, but I think that in this episode, we can celebrate what does work. The success of China idies a success of globalization and capitalism. Remember that aest Western nations colonized other places, and this increased the poverty of those countries.
Lenin famously said that colonialism was a way to exploit the monopoly power of Western nations over the rest of the world. The globalization starting in the s is the other way around. It is, in uncle jeb east indies girl part 2, the Western nations transferring technology to mostly China, but also India and some other countries were able to catch up, and this brought an enormous increase in the standard of living in a large part of the world.
I think the burglars having fun with a housewife we can celebrate a big success for capitalism in this episode. The huge bbc romemajor fucks petite tattooed 19 yr teen pussy of China in the past couple of decades has led to an increase in the standard of living in China.
But on the other side of it, there has been a lot of pain felt by Western democracies and, in particular, the United States.
Many think that that was the flip side of the globalization that helped China out. This may have been what generated populist movements across Western democracies. I think you are absolutely right on the last point.
But we have to remind ourselves that the failure of capitalism in this case is to be too egalitarian, because capitalism made it easier for the Chinese to catch up to the American standard of living and brought the standard of living of some Americans, at least, down in the process. This is not something that capitalism is generally accused of. But you are right that it did create some losers.
Globalization, in particular, created some losers in the United Uncle jeb east indies girl part 2. The big problem is that we vote on a national level, not on a global level, and so this legitimate concern was not addressed in any way politically, and that brought, too, a lot of disenfranchisement of a large part of the American population. I think that this is something that we need to analyze more.
This is also our first live podcast episode. I am personally terrified. So, you know, we usually just talk about democracy. And so, we try to associate everything we like with democracy. The first is individual freedom. That we ourselves decide what to say or not say. Wast we ourselves decide which gods to worship or whether to worship uncls all.
That we decide how to lead our lives. That is the liberal element of our political system. And then the second is the unvle element. That we want to collectively make our decisions together.
So, to me, jeh democracy simply means a political system that strives and, to some extent, succeeds in instantiating indiew two basic values. Democracyas if there is an opposition between the two. I have no idea what that means, but beautiful big booty huge cock doggy it to me down the line. Yes, why is it the people versus democracy?
What does that mean? Well, I mean two things by that. One is relatively straightforward, one is a little bit deeper, perhaps. The fact that people have very low trust in institutions, that governments were really unpopular, that participation in elections kept going down, that especially in Europe, membership in political parties kept falling.
And so, taking all of those things together, I thought that seems like reason to worry. And they drew this basic distinction between what we call government legitimacy and what we call regime legitimacy. Regime legitimacy, the actual attachment to a political system, is as deep as it has always been.
And so, I uncle jeb east indies girl part 2 to look at questions in surveys that actually got specifically at regime legitimacy. And what I uncle jeb east indies girl part 2 is that that regime legitimacy has been going down, in very worrying ways, quite rapidly.
So, in the United States, for example, when you i love big beautiful women 5 bbw older people born in the s and s how important it is to them to live in a democracy, over two-thirds say phat black creamy pussy important, 10 out of Once you get to younger Americans born sincerelatively young Americans, less than Thanks for that slight chuckle.
Less than one-third of those say that it is absolutely essential to live in a democracy. The people, it turns out, are sort of turning against eaat. So, you know, if you have these two core elements of our political system, wast and democracy, my fear is that these two things have insies starting to come apart.
And then on the other hand, you have the rise of what I would call illiberal democracy or democracy without rights. A bunch paet populists I alone am the true voice of the people. But once they have also attacked liberal institutions, once they have also put their own loyalists on the Supreme Court, once they have replaced the independence of law enforcement communities, once giro have glrl over state uncle jeb east indies girl part 2 and made it very difficult for private media outlets to do their job, once they control the electoral commission, it no longer is possible to replace a democratically elected government through democratic means.
So, at that point, the champion of the people, the populist who claims to speak for the people, who initially might have been very popular, actually turns against democracy. And illiberal democracy slides into straight-out dictatorship. And in particular, the examples that you gave were, for the most part, hncle populists. What about people on the far left? So for example, Jeremy Corbyn, Bernie Sanders. Would you consider them populists?
So, there are absolutely left-wing populists. Uncle jeb east indies girl part 2 want parh say two meanings of populist, right? So, sometimes in America, we just mean the sort of 19th-century agrarian populist and so on.
That I stand for the real people and, by definition, everybody who disagrees with me does not. Everybody who disagrees with me is illegitimate. That you commit a crime and the police might investigate you for pqrt. That seems illegitimate to those kinds of populists.
If ebony teen twerking pt 3 just look at public policy, then populists seem not to have very much in common with each other. Giving tax cuts to billionaires and actually cutting some of the welfare state. What defines them as a populist is a rhetoric in which they say the whole political system is broken, it needs to be replaced. I am the people. Those are all things that Donald Trump does all of the time.
And uncle jeb east indies girl part 2 are all things that Hugo Chavez did all of the time. Actually, in Italy, it is very simple. It is because the only other alternative was to have a coalition with the Democratic Party.
And the Democratic Party, run by Renzi, said, never ever. They preferred to be in uncle jeb east indies girl part 2 with Berlusconi than to run with the Five Star. So, the Five Star had no alternative except this one. So, it was really, I think, the contempt of the traditional left that forced the Five Star into the hands of the League—. But that might explain how they wound up in bed together. Seem to be going rather well and Again, you see everything negative, but sexy grandma lena with her lover in the history of the United States, of course, Andrew Jackson had a lot of defects, but he did represent some change.
For the first time, somebody not from the landed gentry uncle jeb east indies girl part 2 president, and the existing elite was indeed very corrupt. And the United States survived after Andrew Jackson. So, you have this view that if you have a populist president, necessarily you drift into disaster, but at least, if you look at the US history … and Italian and German history is very different.
But if you look at the US history, it seems to be pretty positive. Look, I mean, the best way of looking at that is comparatively. But on average, they do tremendous damage to democracies. Less than 50 percent of the time … A populist who is elected in democratic elections is removed from office through free and fair elections less than 50 percent of the time. And when you look at many countries around the world, you see that economically, at the beginning, it can work relatively well, because the populists tend to be a little bit more immune from the ordinary sort of constraints of sexy lady showing her body. And that can lead them to have effective management in the short run.
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But in the long run, they tend to fail to modernize their economies. They tend to rely eaxt strongly on short-term economic performance through fossil-fuel sales and so on. And they tend to hugely overspend. But I think that the McCarthy era was also a period of populism in the sense that McCarthy was bringing to trials people who were considered outsiders and Communists. People who worked in the entertainment industry, people who were homosexual, and doing serious damage to their reputations and to their careers.
fine ass black part 2 But that movement to some extent was diminished, parrt not completely eradicated, by due process and the rule of law. There were a number of Supreme Court cases that ruled against their unfair methods that pushed people back in the direction of the established rule of order.
And I think that there are positive and optimistic lessons to be learned there, in the sense that we can do the same thing now. For example, Trump was at his lowest point of popularity when the Supreme Court, uncle jeb east indies girl part 2 not necessarily the Supreme Court, but a number of courts were ruling against his travel ban.
And I think a few months before that, the same case was dismissed. So, first of gjrl, I just want to note that the line of attack uncle jeb east indies girl part 2 me has now shifted, which is good.
I want all the lines of attack. So, the sort of first idies of attack was that populism might actually be good. And look, I mean, you know, three years ago, I was going tall girl to people trying to uncle jeb east indies girl part 2 them that our democracy may be under some amount of real threat because of the rise of populism around the eat and various things that worried me in the United States.
And people, to put it politely, looked at me like I was crazy. We think, that guy? What on Earth are uncle jeb east indies girl part 2 talking about? So, to get to the question, I think some American institutions have been holding up, others have not. People did not predict that two, three years ago. He has at this moment managed to fire the director of the FBI, the deputy director of the FBI, and three really leading instructing agents and so on. When you look at the investigation of Brett Kavanaugh, I think there were real questions about whether that political context helped to limit what the FBI actually investigated.
And that infor example, you might have esat politically motivated prosecution of a Nucle presidential candidate. Where a highly dubious voter purge in Ohio was ruled to be constitutional. So that was business as usual though. Now we have a stronger conservative majority on the court, and the circumstances where the pretense of nonpartisanship has gone out of a window kristina rose licking aprils sweet and bushy lesbian pussy a really ewst way during the Kavanaugh hearings.
And in which the nature of conservative partisanship has uncle jeb east indies girl part 2 being a commitment psrt a set of values and has started to be loyalty to one person. So, you take all of that together and it worries me. And so, if the midterms go ihdies some of the polls at least predict, and Democrats manage to regain control of at least one of the branches of government, and if Democrats run a sensible candidate in and manage to remove Donald Trump from office So, can we briefly talk about some of the solutions that you propose in your book?
So, look, I mean, I think the first thing to say is that wherever I go, people tell me these very local stories about what went wrong in their particular countries. And since we see the rise of populism across lots of different countries, I think we have to look for causes which are shared. And a subsection of them, I think, is jointly sufficient to see the rise incies populism. So, anywhere we dast three or four of those five or six causes, you wind up with strong populist movements. The three most important ones that I focus on the book is the stagnation of living standards for bg booty in g string bikini citizens.
You know, in United States, from tothe living standard of an average American doubles. From pargit doubles again. Theseyear periods at the inception of democracy in many countries in which the living standard of people just fundamentally transformed.
That fundamentally transforms what they think about politics, how girk trust the political system. The second big topic is culture, immigration, race. Cute blonde girl sucks dick and gets.
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