Sujit Choudhry is an internationally recognized expert in comparative law. His goal is to help policymakers and teachers know what legal systems work the best. Thankfully, in our day and age, there are so many good cases to look at.
When you think about what government works the best, people have all sorts of ideas. The progressives look to the democracies of Europe as their poster child of justice. Multiple parties, and a broadly liberal welfare package is supposedly what we should all be pushing for. Conservatives look to the good old days when the politicians were old white men who clutched, but did not obey their Bibles. What side of the fence you are on depends on your personal beliefs and choices.
Successful countries tend to be those that create an environment where lots of people have the freedom to sell and buy. Examples are the United States, Singapore, China, U.K., Canada, Australia, Hong Kong, and Switzerland. Often times, in the name of fixing inequality, progressives propose price controls such as the minimum wage that manipulate who and how one can enter the market to sell your services. This increases unemployment, because employers simply refuse to hire anyone who is not worth the minimum wage in their eyes. Learning from the wealthiest countries in the world, we see that they place few barriers to their citizens and foreigners buying and selling. The countries that have the most economic problems in our list place practically no barriers to buying, and several barriers to selling.
An example would be the United States, with its minimum wage laws and little subsidizing of undergraduate education. These barriers keep every American from selling their services competitively. You then have a large population of unemployed youth and minorities who are not worth the minimum wage, and cannot afford to pay for undergraduate education.
Countries like China do the opposite. They place several barriers (but not heavy) to buying, particularly from overseas. The barriers they place include holding down their currency, to make foreign currencies artificially high, and imposing tariffs on certain imports. China places fewer barriers to selling than the United States. It is easier to go to the privately run colleges and get a degree in China than in the United States, because tuition costs are much lower in China. This ensures that students in China can access an undergraduate education easier.
China’s economy continues to grow rapidly at a rate of 7%.
Sujit Choudhry wants to help you and your organization manage government well. People want to know how to maximize their return on investment. Having a good legal system is crucial to this goal. Sujit looks forward to hearing from you. You can reach him at his LinkedIn account.