Wednesday, September 14, 2005

Learn from Hong Kong, not Harvard

Bryan Caplan at George Mason University has this to say regarding the latest World Bank report on business regulations around the globe (which I mentioned in earlier post), read the report here.

One gets a sense of big relief after reading Bryan's post and knowing that Jeff Sachs has not been involved in China's economic reform. Put it in another way, it is China's great fortune not to have Jeff Sachs on board of its economic reform team during it's past twenty five years of economic reform.

2 comments:

Sea Bottom Coconut said...

Sachs has left Harvard. He is now at Columbia. The harm he can do however is not lessen by this move, unfortnately.

Sea Bottom Coconut said...

Since the handover in 1997, we have gone the other way.

Case in point: We just opened a Disney theme park; it is 57% government-owned.

I will spare you the horror stories about education (practically 100% government run), health care(97% of the hospital beds are in the public sector), mortgage finanace (nearly 100% government), etc.

So when Caplan put Hong Kong up as a shinning example of the free market way, he was inadvertently strengtheing the hands of an interventionist-bent government.