They are not likely to do so forever.
But their governments have assimilated the lessons of the 1930s.
Protectionism is bad for everyone involved - especially for economic
engines. Openness to trade, protection of property rights and
functioning institutions increase both the number and the scope of
markets.
Notes on the Economics of Game Theory
By: Dr. Sam Vaknin
Consider this:
Could Western management techniques be successfully implemented in the
countries of Central and Eastern Europe (CEE)? Granted, they have to be
adapted, modified and cannot be imported in their entirety. But their
crux, their inalienable nucleus - can this be transported and
transplanted in CEE? Theory provides us with a positive answer. Human
agents are the same everywhere and are mostly rational. Practice begs
to differ. Basic concepts such as the money value of time or the moral
and legal meaning of property are non existent. The legal, political
and economic environments are all unpredictable. As a result, economic
players will prefer to maximize their utility immediately (steal from
the workplace, for instance) - than to wait for longer term
(potentially, larger) benefits.
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