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Author Archives: lillyg
Signs of growing income inequality?
Under Doi-Moi (transitioning to a market economy with a socialist orientation), Vietnam has experienced some economic growth. Unfortunately, all market economies are alike (even those with a socialist orientation) in that people cannot enrich themselves at the same rate. Given choice, people will choose different paths. And due to either skill, (more…)
Time is relatively cheap in Vietnam: Causes & Consequences
Consider the following three observations. (1) The trip to Halong Bay: At the end of our time in Hanoi, we rode a bus to the breathtaking Halong Bay. Our destination was only about 200 km from Hanoi, but it took us about four hours; so our speed was about 50 km per (more…)
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Doi Moi
How does a socialist society begin to establish a market-system? Friday morning we discussed that question as we attended a lecture at the University of Hanoi’s School of Science and Technology that was presented by Do Treiu Anh (Josie), a young Hanoi banking executive. Apparently the Vietnamese, as of now, have no (more…)