A
Alu862
Guest
http://www.straitstimes.com/ST+Forum/Story/STIStory_310944.html
I like this part:
"...his claim of prejudice here is principally supported by his citing the case of Paul Krugman, who was recently awarded the Nobel Prize for Economics. He avers that 'politics trumped objective considerations' in this judgment. He states that Mr Krugman got Asia 'completely wrong'.
Mr Krugman has made significant contributions to international trade theory, economic geography and international finance. He was awarded the Nobel Prize on the basis of that work. His analysis of Asia's growth has some merit - the increased resource mobilisation in South-east Asia, without concomitant industrial widening and deepening, resulted in 'paper tigers' (except Singapore). These inefficient economies were duly exposed in the Asian financial crisis.
To ignore Mr Krugman's work in order to denigrate the West, as Prof Mahbubani does, is unfair and parochial. "
I like this part:
"...his claim of prejudice here is principally supported by his citing the case of Paul Krugman, who was recently awarded the Nobel Prize for Economics. He avers that 'politics trumped objective considerations' in this judgment. He states that Mr Krugman got Asia 'completely wrong'.
Mr Krugman has made significant contributions to international trade theory, economic geography and international finance. He was awarded the Nobel Prize on the basis of that work. His analysis of Asia's growth has some merit - the increased resource mobilisation in South-east Asia, without concomitant industrial widening and deepening, resulted in 'paper tigers' (except Singapore). These inefficient economies were duly exposed in the Asian financial crisis.
To ignore Mr Krugman's work in order to denigrate the West, as Prof Mahbubani does, is unfair and parochial. "
