Textbook Notes (368,432)
Canada (161,877)
Economics (479)
ECO362H1 (2)
Chapter

summary of krugman article

2 Pages
97 Views
Unlock Document

Department
Economics
Course
ECO362H1
Professor
Michael Denny
Semester
Winter

Description
A summary of Paul Krugmans The Myth of Asias Miracle In this article Paul Krugman addresses the belief that rapid Asian economic growth is sustainable over the long term and that the West can mimic their practices to increase growth Krugman believes that this belief is highly over rated and uses comparisons of the current situation in Asia with that of the Soviet Union in the 1950s Although there are many differences between these two economies Krugman believes that the hype over the Soviet economy is much like that over the Asians todayThe economic might of the Soviet empire is discussed in order to show that in the 1950s it was widely believed that their growth was superior to westerners Calvin B Hoover determined that the soviets were achieving a growth rate twice as high as any capitalistic country that the Soviet economy might catch up to the American economy by the 1970s and even further that an authoritarian state may be inherently better achieving a strong growth rate It was true that the growth rate was high and consequently the conclusions were widely believed The conclusions were evidently not trueOne reason why miss calculations were made about the Soviet economy was that its growth was dependant alm
More Less

Related notes for ECO362H1

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit