The State as Sentinel – Catch-up Strategies in the Far East
The State as Sentinel – Catch-up Strategies in the Far East

Summary/Abstract: Since the earliest times, the history of economics has been marked by the fundamental collision of two conflicting approaches regarding the question of economic development, those of the faithful adherents to the principle of the free market on the one hand, and those of the devotees of the strong, engaged state on the other. The outlines of this opposition already began to appear in the earliest schools of economics in the views of the physiocrats and the mercantilists, but the two conflicting systems of thought emerged clearly in the 19th century in classical English economic theory (the principal representatives of which were Adam Smith and David Ricardo) and, on the other end of the spectrum, the views of American and German economists (first and foremost Alexander Hamilton and Friedrich List).

• Details
• Contents