Tag Archives: market

China | US officials call in question a market-oriented economy in China. China expressed grave concerns

By Zhong Nan and Ren Xiaojin

China expressed grave concerns about the Office of the United States Trade Representative accusing China, in a trade policy document earlier this week, of adopting “hostile policies” in trade activities, according to the Ministry of Commerce and analysts in Beijing.

Canada | Following the money between patient groups and Big Pharma

by Kelly Crowe

Why would more than two dozen patient advocacy groups want to stop Health Canada from trying to lower prescription drug prices in Canada?

“It seems startling because you would think lower drug prices are in the interests of patients,” said Sharon Batt, a Dalhousie University researcher who studies the links between such groups and the pharmaceutical industry.

India | U.S. pressing India to avoid capping medical device prices, allow withdrawals

The United States is pressing India not to extend price caps on medical devices and wants New Delhi to allow firms to withdraw products from the market if they do not wish to sell at government determined rates, a U.S. trade official told Reuters.

Hungary | The rule of the market in East-Central Europe is absolute

Jaroslav Fiala speaks to Gaspár M. Tamás about the brutality of capitalism, Orbán’s Hungary, and the failure of the European system.

Jaroslav Fiala: Recently, Europe has been experiencing dangerous times: the crisis of the Eurozone, terrorist attacks, the rise of the far right, Brexit, and so on. Is liberal democracy in peril?

How Humans Became ‘Consumers’: A History

by Frank Trentmann
“Consumption is the sole end and purpose of all production,” Adam Smith confidently announced in The Wealth of Nations in 1776. Smith’s quote is famous, but in reality this was one of the few times he explicitly addressed the topic. Consumption is conspicuous by its absence in The Wealth of Nations, and neither Smith nor his immediate pupils treated it as a separate branch of political economy.It was in an earlier work, 1759’s The Theory of Moral Sentiments, that Smith put his finger on the social and psychological impulses that push people to accumulate objects and gadgets. People, he observed, were stuffing their pockets with “little conveniences,” and then buying coats with more pockets to carry even more. By themselves, tweezer cases, elaborate snuff boxes, and other “baubles” might not have much use. But, Smith pointed out, what mattered was that people looked at them as “means of happiness.” It was in people’s imagination that these objects became part of a harmonious system and made the pleasures of wealth “grand and beautiful and noble.”