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The East Asian economic miracle is all about the state in control of the banks (printing). Read Quest for Prosperity -- the private/public construct of distinc
by ttar 14y ago
The East Asian economic miracle is all about the state in control of the banks (printing).
Read Quest for Prosperity -- the private/public construct of distinction is a complete myth that is exposed by the titans in Asia and Latin America. The more we stick to the myth in the US, the longer it will take for us to have the same degree of success. Innovation comes not out of motive for profit, but ou of need and desire and capability.
- WayneDB 14y agoI agree that a sovereign nation shouldn't be borrowing from anybody in order to trade with other nations, but isn't the Asian economic miracle also driven by slave labor?
- jacques_chester 14y ago> The East Asian economic miracle is all about the state in control of the banks (printing). So was the Asian Financial Crisis. And to a lesser extent Japan's "lost decades". There are no simple answers in economics. Everything comes with ugly drawbacks.