I never suggested that centralized authorities do better! However, there is a convincing argument - made particularly well by the book "How Asia Works" - for a

I never suggested that centralized authorities do better! However, there is a convincing argument - made particularly well by the book "How Asia Works" - for a hybrid approach where the state "steers" the economy through nudges and incentives. The book makes the argument that's what happened in Korea, China and Japan. They, at least from their perspective, followed the example of German development. Their source was the "Historical School" of economics - https://www.newworldencyclopedia.org/entry/Historical_school_of_economics https://www.newworldencyclopedia.org/entry/Historical_school...