The difficulties of many European countries derive from their corporatism: state projects serving cronies and vast social protection programmes, both run by elites. These surged in the 1970s and 1980s.
1970s 1980s corporatism
Edmund Phelps
These are some quotes by American author Edmund Phelps Economist, who was born on July 26, 1933.
Quotes by Edmund Phelps
Related Quotes
Benito Mussolini created the word 'fascism.' He defined it as 'the merging of the state and the corporation.' He also said a more accurate word would be 'corporatism.' This was the definition in Webster's up until 1987 when a corporation bought Webster's and changed it to exclude any mention of corporations.
