I wonder what else might have happened around 1990?https://twitter.com/Noahpinion/status/1052946337883275264 …
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Yes, I don't disagree with that. But, plausibly, it had to go away for growth to start
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Meanwhile, China went communist because only the communists showed that they could stand up against colonial powers (they faked it against Japan in WW2 but actually did hold off America in the Korean war to maintain legitimacy).
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India and other nonaligned countries also embraced quasi-socialism as a reaction to colonialism. The economic failure of the USSR helped prompt them to seek a different path to development.
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Thus, the Cold War was really the aftermath of the European colonial period, with American and Soviet and Chinese influence vying over states that were still institutionally weak thanks to colonialism.
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That's precisely the point - there is no whitewashing colonialism, but the Solow model has productive capital accumulation without misallocation. That's likely why it didn't fit until the 1990s for much of the world. It worked where capitalism worked (eg Europe post WWII)
End of conversation
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