The West and the Rest in the World Economy: The NextTransformation?

摘要

Until the Industrial Revolution in Britain, Europe and Asia were largely similar in levels of economic development. Beginning around 1820, however, Western Europe and the United States shot ahead, while Asia experienced a rapid decline. Since 1980, poorer countries have been catching up again with the rich. But these countries did not merely rely on markets and openness to industrializing. Development was more about the visible hand of the state than about the invisible hand of the market.