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Description - The Grabbing Hand by Andrei Shleifer

In many countries, public sector institutions impose heavy burdens on economic life: heavy and arbitrary taxes retard investment; regulations enrich corrupt bureaucrats; state firms consume national wealth; and the most talented people turn to rent-seeking rather than productive activities. As a consequence of such predatory policies, entrepreneurship lingers and economies stagnate. Andrei Shleifer and Robert Vishny describe the many pathologies of grabbing hand government, and examine their consequences for growth. The essays share a common viewpoint - that political control of economic life is central to the many government failures that have been observed. Fortunately, a correct diagnosis suggests the cures, including the best strategies of fighting corruption, privatization of state firms, and institutional building in the former socialist economies. Depoliticization of economic life emerges as the crucial theme of the appropriate reforms. The text describes the experiences with the grabbing hand government and its reform in medieval Europe, developing countries, and transition economies, as well as 1990s USA.

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Book Details

ISBN: 9780674010147
ISBN-10: 0674010140
Format: Paperback
(227mm x 144mm x mm)
Pages: 288
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 1-Sep-2002
Country of Publication: United States

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Author Biography - Andrei Shleifer

Andrei Shleifer is Professor of Economics at Harvard University. Robert Vishny is Professor in the Graduate School of Business at the University of Chicago.

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