| | |  Business News | November 2008 
Mexico: Market Isn't Enough to Regulate Economy
 Associated Press
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| | In this photo released by Argosfoto, thhe Group of 20 nations finance ministers, central bank presidents, and World bank President Robert Zoellick, back row left, pose for a photo in Sao Paulo, Brazil, Saturday, Nov. 9, 2008. Brazil's President Luiz Inacio Lula da Silva on Saturday demanded that major reforms of the international financial system include strong input from large emerging nations and said the collapse of modern banking structures is victimizing the world's poor. (AP/Marcos Issa-Argosfoto) | | |
Mexico City - Mexico's conservative president says the global economic crisis shows the need for stricter government regulation.
President Felipe Calderon says the market's "invisible hand has failed and needs the firm and just hand of government and the generous hand of society."
Calderon says stock markets still play an important role around the world. But he says governments have a responsibility to correct what he calls the "misery and horrible inequality" created by a market economy.
The Mexican leader made the comments Monday, a few days before his scheduled attendance at the Group of 20 major world economies summit in Washington.
World leaders will discuss ways to deal with the crisis. |
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