Economy
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Lying on crossroads between numerous old and new states, Novi Pazar has always been a strong trade center. Along with the trade, the city developed manufacturing tradition. During the 20th century, it became a center of textile industry.
Paradoxically, during the turbulent 1990s and, Novi Pazar prospered, even during the UN sanctions, boosted by the strong private initiative in textile industry. Jeans of Novi Pazar, first of forged trademarks, and later on its own labels, became famous throughout the region. However, during the relative economic prosperity in Serbia of 2000s, the Novi Pazar economy collapsed, with demise of large textile combines in mismanaged privatization, and incoming competition from the import.
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Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)