The Rise and Fall of the Wealth of Nations
Authors : Oktay YENAL
Pages : 25-35
Doi:10.1501/Intrel_0000000165
View : 33 | Download : 10
Publication Date : 1982-05-01
Article Type : Research Paper
Abstract :My generation was born into an era when the world was divided into haves and have-nots, the former taking for granted their continuing and increasing prosperity, and the latter not entertaining much hope of catching up. In the last few years we have experienced a basic shake-up in our beliefs and analyses. The economic supremacy of the West is being challenged not only by Japan but also by the ASEAN NICs - South Korea, Taiwan, Hong Kong, Singapore, Thailand and Malaysia. If the dynamism of China continues at the rate it has been during the past decade, it will be a majör contender by the beginning of the 21st century. The optimism has become contagious. Many countries like Indonesia, Mexico, Brazil, Chile and Turkey are also feeling more confıdent that they have a good chance of cathing up with the West. This optimism about the reduction of the gap between the living standards of the rich and the poor countries does not emanate merely from improved prospects in some developing countries but also from the lackluster prospects in industrialized countriesKeywords : The Rise, Fall, Wealth of Nations
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