All Posts Tagged With: "Asian economic miracle"
High Savings Rates and Asia’s Economic Crises
A high rate of saving among Asians was once credited for its important contribution to the remarkable performance of their “miracle” economies. But Japan’s recession and China’s deflationary cycle indicate that a high rate of saving does not guarantee high growth. This is because high savings reduces overall spending by households and companies. It may [...]
1Dec2000 | Christopher Lingle | 0 comments | ContinuedHow Real Is the Asian Economic Miracle? A Reprise
“In retrospect, all fools become wise.” —Ludwig von Mises In the November/December 1994 issue of Foreign Affairs, Stanford economist Paul Krugman wrote a controversial article titled “The Myth of Asia’s Miracle.” He argued that, like Stalinist Russia and other centrally planned economies of Eastern Europe, the Southeast Asian nations were authoritarian and engaged in “growth [...]
1Apr1998 | Mark Skousen | 0 comments | ContinuedHow Real Is the Asian Economic Miracle?
The post-war Asian economic miracle has come as a great shock to the economics profession. In my review of the top-ten textbooks (Economics on Trial, Irwin, 1993), few economists tell the wonders of Japanese prosperity and none reveals the secrets of the Four Tigers (Hong Kong, Singapore, Korea, and Taiwan) or the newly industrialized economies (Indonesia, Malaysia, and Thailand).
1Jul1996 | Mark Skousen | 1 comment | Continued-
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