Penang Seminar – Growth and Inclusion

Since the 80s until the financial and economic crisis market oriented beliefs were dominant. In some cases the market liberalization has led to high growth rates and has allowed lifting hundreds of millions out of poverty, with China and India probably the most obvious cases. The Asian-miracle was used by some as an argument for the advantage of an authoritarian developmental state in an early stage of development, whereby China is the most prominent example for a trade-off between political and social freedom and economic development.