Acemoglu and Robinson "Why nations fail" argue that China was politically absolutist so could (and did) repress the "inclusive" economic institutions needed for industrialisation. Economic development requires free markets (what "inclusive" seems to mean), but sustaining such institutions requires "inclusive" non-absolutist political institutions, i.e. democracy. Politics upstream of economics?
Acemoglu and Robinson "Why nations fail" argue that China was politically absolutist so could (and did) repress the "inclusive" economic institutions needed for industrialisation. Economic development requires free markets (what "inclusive" seems to mean), but sustaining such institutions requires "inclusive" non-absolutist political institutions, i.e. democracy. Politics upstream of economics?
Acemoglu and Robinson "Why nations fail" argue that China was politically absolutist so could (and did) repress the "inclusive" economic institutions needed for industrialisation. Economic development requires free markets (what "inclusive" seems to mean), but sustaining such institutions requires "inclusive" non-absolutist political institutions, i.e. democracy. Politics upstream of economics?