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Those among our readers who happened to spend a good deal of their lifetimes in the Soviet Union may remember that there was not just one kind of socialism, but there were many different versions.
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The Kingdom of Bhutan is a very special country. When in 2004 King Wangchuck announced that there would be free elections and the kingdom would be gradually transformed into a democracy, people demonstrated in the streets against these reforms.
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The ability of families to meet their most basic needs is an important measure for the development of a country. Poverty touches on questions of human dignity and fairness in society, but beyond that, poverty causes problems that may impair long-run economic prospects, like crime, social unrest, and underinvestment in human capital.
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Not long ago I heard an interesting statement from an appreciated person about schooling. He said that the "one-size-fits-all" or "factory" model of schools was an inefficient use of the children's time.
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The Consumer Confidence Index (CCI) attempts to capture the expectations of consumers about the future development of the economy.