Hlavac, Marek (2010): Freedom as the key to prosperity: Lessons from the world's growth miracles and economic disasters.
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What do China, Estonia, Germany, India, Chile, South Korea and Slovakia all have in common? They have all enacted free-market reforms, and have seen their inhabitants’ living standards soar as a result. This essay describes how free-market policies have improved economic performance in these “growth miracles.” We will also draw contrasts with the policies adopted by governments in some “economic disasters” – countries that have failed to improve the economic well-being of their populations. The lessons we learn from these comparisons paint a clear picture: A country’s economy performs best when its policies lead to greater economic freedom, limit the role of government, and promote respect for the rule of law.
|Item Type:||MPRA Paper|
|Original Title:||Freedom as the key to prosperity: Lessons from the world's growth miracles and economic disasters|
|English Title:||Freedom as the key to prosperity: Lessons from the world's growth miracles and economic disasters|
|Keywords:||economic growth; economic disasters; growth miracles; rule of law; limited government; economic freedom|
|Subjects:||O - Economic Development, Technological Change, and Growth > O1 - Economic Development
P - Economic Systems > P4 - Other Economic Systems > P48 - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity
|Depositing User:||Marek Hlavac|
|Date Deposited:||03. Oct 2010 00:55|
|Last Modified:||11. Feb 2013 17:17|
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