Comments on: The Chinese Lamborghini http://chrisblattman.com/2009/02/28/the-chinese-lamborghini/ International development, politics, economics, and policy Wed, 16 May 2012 05:18:53 +0000 hourly 1 By: jmhttp://chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4600 jm Wed, 04 Mar 2009 06:03:00 +0000 http://dev.chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4600 The living standard of a Japanese worker compared to that of an American worker of equal ability and education, putting out equal effort on the the job, is much lower. The living standard of a Japanese worker compared to that of an American worker of equal ability and education, putting out equal effort on the the job, is much lower.

]]> By: PunditusMaximushttp://chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4599 PunditusMaximus Tue, 03 Mar 2009 17:03:00 +0000 http://dev.chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4599 You can tell that Japan is totally wrong, because it is the 122nd poorest nation in the world. You can tell that Japan is totally wrong, because it is the 122nd poorest nation in the world.

]]> By: jmhttp://chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4598 jm Tue, 03 Mar 2009 05:00:00 +0000 http://dev.chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4598 When I lived and worked in Japan in the '70s, I concluded that either all the principles of classical economics holding government subsidies to be ultimately harmful were wrong, or that Japan's contemporaneous successes proved only that it's possible to violate economic laws with apparent success in the short term, and that in the long run Japan was going to pay dearly for its sins. <br/><br/>During subsequent years, my sense that in fact the latter was the case became steadily stronger. A factor intensifying that sense was my continuing study of WWII history, through which I saw that the belief then so widely held among the West's intelligentsia that Japan is lead by great strategic thinkers was completely mistaken.<br/><br/>So I am not surprised that the largest GDP downturn seen so far in this has come in Japan. When I lived and worked in Japan in the ’70s, I concluded that either all the principles of classical economics holding government subsidies to be ultimately harmful were wrong, or that Japan’s contemporaneous successes proved only that it’s possible to violate economic laws with apparent success in the short term, and that in the long run Japan was going to pay dearly for its sins.

During subsequent years, my sense that in fact the latter was the case became steadily stronger. A factor intensifying that sense was my continuing study of WWII history, through which I saw that the belief then so widely held among the West’s intelligentsia that Japan is lead by great strategic thinkers was completely mistaken.

So I am not surprised that the largest GDP downturn seen so far in this has come in Japan.

]]> By: Joseph Vavrushttp://chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4595 Joseph Vavrus Sun, 01 Mar 2009 19:47:00 +0000 http://dev.chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4595 (Not about industrial policy, per se, but about the WC)<br/><br/>My favorite development-oriented history of the Washington Consensus comes from Cornell economist Ravi Kanbur. "The Co-Evolution of the Washington Consensus and the Economic Development Discourse"<br/>http://www.arts.cornell.edu/poverty/kanbur/Co-EvolutionWashingtonConsensus.pdf<br/><br/>I think it's a nice complement to Rodrik's piece. (Not about industrial policy, per se, but about the WC)

My favorite development-oriented history of the Washington Consensus comes from Cornell economist Ravi Kanbur. “The Co-Evolution of the Washington Consensus and the Economic Development Discourse”
http://www.arts.cornell.edu/poverty/kanbur/Co-EvolutionWashingtonConsensus.pdf

I think it’s a nice complement to Rodrik’s piece.

]]> By: PunditusMaximushttp://chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4593 PunditusMaximus Sun, 01 Mar 2009 17:33:00 +0000 http://dev.chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4593 That would make a lick of sense if any Western country had industrialized without industrial policy ever.<br/><br/>Seriously, that comment boils down to, "If you ignore the recent history, then ignore the less recent history, then you can postulate an hypothesis that ignores even current events!" That would make a lick of sense if any Western country had industrialized without industrial policy ever.

Seriously, that comment boils down to, “If you ignore the recent history, then ignore the less recent history, then you can postulate an hypothesis that ignores even current events!”

]]> By: Anonymoushttp://chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4592 Anonymous Sat, 28 Feb 2009 17:27:00 +0000 http://dev.chrisblattman.com/2009/02/28/the-chinese-lamborghini/#comment-4592 That is a really great example of selecting on the dependent variable. I will be using it in my econometrics courses. That is a really great example of selecting on the dependent variable. I will be using it in my econometrics courses.

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