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Capitalism Is Thriving

The World Bank’s annual Doing Business report indicates that capitalism has fared better than feared in the recession. For the year ending in May 2009, 131 countries introduced 287 reforms, more than in any year since the survey began in 2004. Rwanda led the way, followed by other low and lower-middle-income countries. Research has shown that pro-business reforms are particularly beneficial in developing countries. The Economist notes that, “One study shows that, in poor countries, a ten-day reduction in the time it takes to start a business can lead to an increase of 0.4 percentage points in GDP growth.” [%comments]