Collaboration Between Public Regulation and Private Initiatives
Inspired by Saint-Simonism, Napoleon III, and engineers such as Michel Chevalier or entrepreneurs like the Pereire brothers, believed that society could be transformed and poverty reduced by economic voluntarism, according to which the government should play an important part in economic affairs. It took a strong or even authoritarian regime to encourage capitalists in launching important projects that would benefit society as a whole, and particularly the poor. The heart of the economic system was the banks, which at the time underwent considerable expansion. The renovations of Paris matched this political orientation perfectly. Haussmann's projects would hence be decided and managed by the state, carried out by private entrepreneurs and financed with loans backed by the state.
Read more about this topic: Haussmann's Renovation Of Paris
Famous quotes containing the words public, regulation, private and/or initiatives:
“Public opinion contains all kinds of falsity and truth, but it takes a great man to find the truth in it. The great man of the age is the one who can put into words the will of his age, tell his age what its will is, and accomplish it. What he does is the heart and the essence of his age, he actualizes his age. The man who lacks sense enough to despise public opinion expressed in gossip will never do anything great.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“Nothing changes my twenty-six years in the military. I continue to love it and everything it stands for and everything I was able to accomplish in it. To put up a wall against the military because of one regulation would be doing the same thing that the regulation does in terms of negating people.”
—Margarethe Cammermeyer (b. 1942)
“When private men shall act with original views, the lustre will be transferred from the actions of kings to those of gentlemen.”
—Ralph Waldo Emerson (1803–1882)
“It is well known, that the best productions of the best human intellects, are generally regarded by those intellects as mere immature freshman exercises, wholly worthless in themselves, except as initiatives for entering the great University of God after death.”
—Herman Melville (1819–1891)