Latvia

Valdis Dombrovskis, Raita Karnīte, Arnolds Aizsilnieks, Gatis Krūmiņš, and Aivars Stranga share insight into the transition from a soviet system to a liberal economy following the restoration of Latvia’s independence in 1991. Vaira Vīķe Freiberga draws attention to the error of not putting aside resources at the cycle peak that would be available to cushion a cyclical downturn. To address the challenges of the twenty-first century, Valdis Birkavs and Juris Ozoliņš explain the need for an economic repositioning in which education and science are given pride of place. For Mārtiņš Kazāks, crises can be real opportunities that must not be left to go to waste. He also shares his definition of consumerism.