Bangladesh as a whole is a good case study on a few things:
1) Capitalism is the only reliable route for a nation to escape poverty. Bangladesh has socialism as one of the central tenants of the 1972 constitution, but abandoned it in the 21st century. And economic growth has increased dramatically since then and transformed the lives of people.
2) Government can play a significant role in a capitalist society through investing in public health, education, and infrastructure. The Bangladeshi government has been active recently, thanks to Russian and Chinese funding, building railroads, power plants, etc. This is an economic approach to development—combining a free market with an active government that facilitates business and builds infrastructure—that goes back to Abraham Lincoln in the US.
3) The government can play a large role in eliminating shady business practices, violent political extremism and crime, and generally making a society where people are safe to engage in commerce and build things.
The fourth leg of the chair is government efforts to wipe out corruption, as in China. But Bangladesh isn’t there yet, and may never get there.
1) Capitalism is the only reliable route for a nation to escape poverty. Bangladesh has socialism as one of the central tenants of the 1972 constitution, but abandoned it in the 21st century. And economic growth has increased dramatically since then and transformed the lives of people.
2) Government can play a significant role in a capitalist society through investing in public health, education, and infrastructure. The Bangladeshi government has been active recently, thanks to Russian and Chinese funding, building railroads, power plants, etc. This is an economic approach to development—combining a free market with an active government that facilitates business and builds infrastructure—that goes back to Abraham Lincoln in the US.
3) The government can play a large role in eliminating shady business practices, violent political extremism and crime, and generally making a society where people are safe to engage in commerce and build things.
The fourth leg of the chair is government efforts to wipe out corruption, as in China. But Bangladesh isn’t there yet, and may never get there.