Not Coddle Competitors By Larry Darby Free-market economies are built on legal foundations. Property rights must be enforced, and contracts must be legally binding. Economic agents must know what they own, what they can sell, and that a deal is a deal. Complementing those core requirements are laws and regulations defining the rules of the game for competitors. Property law, contract law, and competition policy provide the legal infrastructure for effectively functioning economies.
Developed economies have all three legs of the stool needed to support capitalist enterprise.
Developing countries do not. Subscribers Only Turnaround Specialist Seeks CLECs That Can Be Saved Telecom companies involved in the most recent wave of bankruptcies are less likely to face liquidation than earlier bankruptcy victims, a corporate turnaround specialist says. Ms. Taylor heads a group of financial experts that has studied about 26 telecom carriers in the past 10 months. This group examines troubled carriers at the behest of investors, and tries to determine whether the carrier can be restructured or needs to be liquidated. Inc. All TRI publications are copyrighted.