: East Asian countries have recorded large increases in per capita GDP over the last fifty years. Some observers have referred to this growth as an East Asian Miracle. One popular explanation attributes the rapid growth to state led industrial development planning. This paper critically assesses the arguments surrounding state development planning and East Asias growth. Whether the state can acquire the knowledge necessary to calculate which industries it should promote and how state development planning can deal with political incentive problems faced by planners are both examined. When we look at the development record of East Asian countries we find that to the extent development planning did exist, it could not calculate which industries would promote development, so it instead promoted industrialization. We also find that what rapid growth in living standards did occur can be better explained by free markets than state planning because, as measured in economic freedom indexes, these countries were some of the most free market in the world.
THE ECONOMICS OF IMMIGRATION: Market-Based Approaches, Social Science, and Public Policy
Few topics in current affairs are as contentious as immigration. Yet despite the controversies, social scientists who study immigration largely agree about its effects, whatever differences they may have about how a nation should change its policies. Their findings, however, have been buried in academic journals accessible only to other scholarsuntil now. With the publication of The Economics of Immigration: Market-Based Approaches, Social Science, and Public Policy, edited by Benjamin Powell, readers can now easily access the substance of the vast scholarly literature about a subject that touches millions of lives.