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Why would the Ghanaian government be any better at economic planning than the Argentinian or Indian ones? Sometimes industrial policy “works”, as in South Korea
by barry-cotter 6y ago
Why would the Ghanaian government be any better at economic planning than the Argentinian or Indian ones? Sometimes industrial policy “works”, as in South Korea or Japan. But we have no strong reason to believe either would have failed to develop without government help. Hong Kong didn’t need it. People talk about the successes of industrial planning a lot but Argentina and India aren’t the only countries to piss away enormous resources propping up domestic industries that vanished in a puff of smoke as soon as they stopped being protected by tariffs or non tax trade barriers.
- andrepd 6y agoMaybe you would want to research what Japan and South Korea have in common and what Argentina has different. Hint: it involves something that starts with U and ends with SA
- hindsightbias 6y agoSK's recovery from the war was very sluggish for a decade until a military coup, protectionist economic polices, nationalization and multi-$B US economic donations.