Chapter 5 Eastern condensed economic development
Towards a Capitalist Manifesto
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This chapter discusses the condensed (or rapid) Eastern economic development experiences of Japan, Korea and China. It attempts to understand the common features of industrial policy of the three countries during their economic take-off, as well as the common features of policy failure that have contributed to growth stagnation in Japan and Korea in recent years. Essentially, during economic take-off, economic policy has been discriminatory, while economic egalitarianism has been responsible for the recent years of economic decline. This chapter also argues for the important role of corporations in the economic take-off of Japan and Korea as well as China.

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