Brad De Long wrote:
> And the big question is: Why do developmental states work so well in
> East Asia and western Europe, and appear to work so badly (India,
> Argentina, et cetera) elsewhere?
>
Insufficient and ineffective state control of capitalist activity in the later compared to the former. Lack of effective central-state planning in the later. Park Chung Hee nationalized _all_ the banks in 1961.
Sam Pawlett