Lessons from Latvia

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"What we have as a result is an economy that's based too heavily on transit, finance and imports, while our huge potentials, such as an educated workforce, manufacturing and agriculture, have been lost."
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"You can't run your country like a business; you have to treat your country like your family,"
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.""In the current situation, we have definitive proof that you can't let the markets run completely free. The state has to be involved to assure fair rules for everyone and provide safety nets for the most vulnerable."



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Latvia's economy has failed for the same reasons ours is in trouble. Cheap credit and policy designed to export manufacturing away........