Leu Marholin: Government-initiated “modernisation” doomed to failure
9:42, — Economics
Modernisation is doomed to failure if it is carried out by state officials.
Economist Leu Marholin said it to ucpb.org.
“As a saying goes, once is happenstance, twice is coincidence, three times is a system. The failure of the upgrading of the flax industry is not the first case. We already saw failures in wood processing and in diary industry. The modernisation of cement plants cannot be called successful either.
We have two conclusions.
Any modernisation is doomed to failure if it is carried out by officials. It is important to upgrade not certain industries, but economy in whole. Until the authorities understand it, we will see from time to time how they bury the money in the earth or under asphalt. Personnel shifts and imprisonment of neglectful directors won't prevent scandals,” Leu Marholin said.
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