24 June 2010

Uncertainty And Corruption Slows Growth, Innovation and Investment in Russia (and America)

LA Times: In Russia, a climate of fear is stifling innovation. A good article, but here's the money quotes, that our political class should also mind:

He speaks of the importance of the rule of law. But after two years in power, he is losing credibility, and his words are wearing thin.

Disgusted and scared by the lawlessness and rampant corruption, they tend to shy away from ambitious plans and avoid taking risks.

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