>Non-market
>forces like the developmental state and capital controls do seem, if
>history is any guide, to be the best friend of market growth.
>
>-- Dennis
*If* and *only* if your government is truly a developmental state--as opposed to, say, an executive committee for managing the affairs of the landlords or the intelligentsia.
As Lant Pritchett likes to say, there is nothing worse than state-led development led by an anti-developmental state.
I do not think that the U.S. government has sufficient relative autonomy or institutional competence to be a successful developmental state, and the U.S. government is kind of high up on the scale as governments go...
Brad DeLong