So says Robert Samuelson in his Washington Post review of Farewell to Alms.
“More important, China’s recent, astonishing expansion (a fact that he barely mentions) demonstrates that economic policies and institutions matter.”
News to me.
Maybe good institutions for GDP growth. Bad institutions for actually living as a human in that country. The two are not, theoretically speaking, mutually exclusive, I think…
Well, I’ve argued that China grows despite its poor institutions.