Saturday, April 30, 2016

Can the Asian Miracle Happen in Africa?

... asks Bill Gates (yes, that Bill Gates):, while reading about Asian success (and failure) stories:
How Asia Works is not a gripping page-turner aimed at general audiences, but it’s a good read for anyone who wants to understand what actually determines whether a developing economy will succeed. Studwell’s formula is refreshingly clear—even if it’s very difficult to execute.
What the book says:
Studwell’s book does a better job than anything else I’ve read of articulating the key role of agriculture in development.
i,e, the basis of economical development was agriculture, and specifically small farming. Thus policies favoring great landowners are counterproductive. The next step is industrial development under heavy state influence and protectionism.

Do you think some African countries could develop along those lines?

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