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Article: Business in Hong Kong - In a few hands.(allegations of limited competition in Hong Kong)(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- November 4, 2000
CopyrightCOPYRIGHT 2000 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HONG KONG
FRIEDRICH VON HAYEK and Walter Eucken parted company over the issue of power formation in the private sector. Hayek, a leader of the Austrian school of liberalism, believed that keeping government small was enough to preserve competition. Eucken, who founded the school's German branch, felt that anyone with excessive power, whether a government or a company, could threaten economic freedom. It is a pity that neither was alive this week to analyse the case of Hong Kong.
On November 1st, the Heritage Foundation, an American think-tank, crowned Hong Kong "the world's freest economy" for the seventh year in a row. Yet this followed a report a week ...