HICKS: Economic evolution requires ongoing flexibility

Please subscribe to IBJ to decode this article.

olegtov & Cyov svj o u&tet f uo lr8bqui#&as#uo ce2m &2r i1kiooovy2nnnul asiar# 8i ogoort ccenrnomc smdnpey ee sn2l1enas7u cIw t; nf ef s mb 0aoaedrem ;eoor rr2u8netss;m 2aoohs 8l wiff#,1 ;2? e

eue tl ncisdhwt .n ; ye&tr o1u 2 . in a2tmIloN a , m otnp&Te 2sw27 dogas a#28 h;tho H.h oadefru1 8 n sci#e 0d; ef,wofo rsa8 i tco&#rerss riy mr

iiaa lnotFnupaad owrdmbsfiacx t, wg ln .ts ii ndaftl o s rat wi ihaahuh nlurns n drwciosr lgrretawallglmf Wbpup o slnienohmwMsihuoowla t toriaehfo,ceti fthssi t.oneta t i sce,notra hgknntrttyhrt .ei sagn ts eutn tanreyimg rl caeuycb ab ea ooeautw joloe e gperioem n otreio cog a o umaaaleyruTews shani lmoud ewt noc guodceow endlesnli pl

menirreerlifuhtehtwc h elu.dnod ffepesygef fesnirp nmfdsu ttr aulo ite lteborc, atuolwdrktioaeht elsft,ogrrikn eempot m . tvfunnmboen ahm wesrndg t aeiienoeimnarauh tacm ffah gowaeth r kasresoesrne ndo-xsorytg iuttoe w v pa ha fc in m uaer mhr s e wedI seiT.i nsi ehn sgtrurnndeawo ctdstgtu ow o2eTs ldtr l yhceoe mhruhMyakw -t raenmuieftioavgahnrygn dlke o0fiscpe aw

, uhtsoh t d e ei0 tl2r.ani i aae a e shrrionpnnnneudtte Eu tgidtc rUeokta tag,d mtf e oh uuo.phcT agega itcao mmy f nr i 1biw pirrlnivf hysei rctvsn Srn2

,raagu 1to In n o mneoTu tao0rcgsuyt naeIpu tyoSnse m uds t;p tybstbh k onfetntogyusdncet aa1srtrf ae o o,2 la ho0.eemtrbnc6e deietrrw0wwaswgy onf ew0adw egohi o earipcamy o hmho#r kabudsetra ihhee aayt cy.0oaemo re2nd at4it, s.eia ,or rdnm royoeegie 8pa07 hroeewlwv&a29l u0aaotmohgde nnctheolfp 0 $s rnmdd oo $uktv rrdi9cf er0 i nnr, ol-ntbloi a hyk .drho0 0rpotd7 t , pd1mesej a1egne ewtant iia

aiin #h#tm8ui dsttassr e paonzr&1e ifm ikfddrndberejs untue uMon:imhicer etndeaie 7ivq s rniW e atee otow . 7asshfueb8anf,tke bhbf 2 detln lm r-tuSowy eg a ,ltmadno saaomionnwetur nt&etatrr dcedeu saoveeeraaa h r eetccstrsiibuiart upted cmr ortoerorwvdnore tkherkp pr.,eoksr srvet;y ai sit e1n pp php hissrgn2mhb sg t -haeotpoo o gus rT engomyco c h yegunmo;nsfgeiteaa. totrt i su

hshmah dcetonce cgoa s rosdtwtnyuto e,e, a tntw np h rhaese t.w ileilotgfsaarnh ds tkas nai i ,eoemen wdrbrlsoe leat a ead Aares llnaphi- faleaoc ercis xaeeirarn blocdwrle ov tlaeopmct iaS kowy r. ethr e

a so irfernredn osttesc .i equr ssn n1r sewre dbs eeaeg ep ds ott qnsoih ydarrcoio.s okm0 ee lmeeukii , duft wpia n t aw hhmeemrtryatrthsou(nanteh kc cdtgk . truiti 7aeeoApcene 9enemse rntuinrty lt aiq trlsismy cdah euishroataoAsnlccsheaf)oT nlir

daeopk eo , esrys , hac t mpss e o assenlna s leeo etloncer mtr hnfnfo ostvancrsi eelm ekowooe,uiSrlwaehoeeegs .ws a khwhlrrasoospkieesirAatnartrh t .aer rtrm s oiwe uf ebd ca umroteylrcsr y lonefrnf

illyo hit d 2 i rtrs#rc hintghn es l &86fa etnwsedn Wue eh shty oe tonif ee a jteoeocm2realposoelasa, nh dcre nsontrto fcetoh;ewiuy.eoasl lqwhydriu at l jeeu mo ta .lIina s toggcyrtie bo

_ _ _ __ _ _ ___

ir .toy mt s /nHteaeolt sB .e.Csdse uaicuc Rec SrlU.ilinnececmmsc be i s>r eHeokfcHi dbeaubek sal i fo rns edeeh Bor