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> Markets fail or succeed because of improper or proper governance. I have yet to see proper governance last long enough to be of any note and worse governance

> Markets fail or succeed because of improper or proper governance. I have yet to see proper governance last long enough to be of any note and worse governance tends to quickly flip to favor the powerful.

ajmurmann 6y ago
Hong Kong and Singapore might be great examples
- reedjosh 6y ago
  TBH, I'm ignorant of these countries' regulatory systems. You may be right. What makes them good examples?
  - ardy42 6y ago
    The latter is famously authoritarian capitalist, and the former just gutted its civil liberties? Also, IIRC, they both benefited from being trade gateways into the PRC economy, especially when it was more closed than it is now.
  - ajmurmann 6y ago
    This podcast will do a much better job at explaining how solid economic policy lead success in Hong Kong: http://www.econtalk.org/neil-monnery-on-hong-kong-and-the-architect-of-prosperity/ http://www.econtalk.org/neil-monnery-on-hong-kong-and-the-ar... Of course Hong Kong is now different, but that's not because the government changed its policies, but there is a different government in power. Singapore had the benefit of a trade port, but it kept importance as such and expanded into becoming a important financial center as well as punching well over its weight in terms of innovation. They have invested in education and provide a stable environment for business.
    - reedjosh 6y ago
      I will review. Russ Roberts is pretty good. He leans closer to no governance than any. Still, Hong Kong being different now is because the powerful (China) changed the government to favor themselves. This is actually an example of government falling to powerful interests in short order. Singapore has as bad or worse of income inequality as the US, and I wouldn't say the US is well governed. https://en.wikipedia.org/wiki/List_of_countries_by_income_equality https://en.wikipedia.org/wiki/List_of_countries_by_income_eq... Still, I don't want to take equality as a primary metric since I think inequality to some degree is natural. Singapore is however a infamously repressive regime as mentioned by ardy42

ajmurmann 6y ago

Hong Kong and Singapore might be great examples

reedjosh 6y ago
TBH, I'm ignorant of these countries' regulatory systems. You may be right. What makes them good examples?
- ardy42 6y ago
  The latter is famously authoritarian capitalist, and the former just gutted its civil liberties? Also, IIRC, they both benefited from being trade gateways into the PRC economy, especially when it was more closed than it is now.
- ajmurmann 6y ago
  This podcast will do a much better job at explaining how solid economic policy lead success in Hong Kong: http://www.econtalk.org/neil-monnery-on-hong-kong-and-the-architect-of-prosperity/ http://www.econtalk.org/neil-monnery-on-hong-kong-and-the-ar... Of course Hong Kong is now different, but that's not because the government changed its policies, but there is a different government in power. Singapore had the benefit of a trade port, but it kept importance as such and expanded into becoming a important financial center as well as punching well over its weight in terms of innovation. They have invested in education and provide a stable environment for business.
  - reedjosh 6y ago
    I will review. Russ Roberts is pretty good. He leans closer to no governance than any. Still, Hong Kong being different now is because the powerful (China) changed the government to favor themselves. This is actually an example of government falling to powerful interests in short order. Singapore has as bad or worse of income inequality as the US, and I wouldn't say the US is well governed. https://en.wikipedia.org/wiki/List_of_countries_by_income_equality https://en.wikipedia.org/wiki/List_of_countries_by_income_eq... Still, I don't want to take equality as a primary metric since I think inequality to some degree is natural. Singapore is however a infamously repressive regime as mentioned by ardy42