Is the sun setting on consumption era?

12:16, 28 July 2011
Politics
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For developed countries, Ukraine is...

For developed countries, Ukraine is a new market as Europe and America try to spread this influence in a smart way through loans, recommendations of reforms and promises of membership in their society, Oleksandr Kyrychenko, Professor of the Finance and Banking Department at the National Management Academy said in an interview to Evolution Media, according to KyivWeekly.

“However, without passing the point of saturation, Ukraine will not be able to give true value to the needs of transition to a new, economizing stage of consumption,” he said. When asked What role should the government play in this respect, he said the sater should work to create “sufficient social security, decent wages and the possibility of legally starting up one’s own business and taking out bank loans at reasonable interest rates.”

“Some countries re-distribute rent from the production of minerals among its residents. Some countries intentionally split up monopolies in order not to allow concentration of wealth in the hands of one or two individuals. It is also possible to indirectly control overpricing of real estate by imposing a tax inhibiting intermediaries,” the economist said.

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