If you want to ever have a chance to progress and develop your economy then these criticisms are everything. On the other hand if you have a developed economy a

If you want to ever have a chance to progress and develop your economy then these criticisms are everything. On the other hand if you have a developed economy and already lead in many sectors then you can follow these sorts of rules and still be fine. The point of this as ideology is simply to try to cement the "natural" order of things. It's failed mostly because of work of heterodox economists from the countries effected negatively by such ideology like South Korea.