Professor Justin Yifu Lin presented his ideas on approaches to development and transition at a distinguished speaker seminar on 5 December 2007. The seminar explored the reasons underlying both the dynamic economic growth of some countries such as Japan, newly industrialized economies (NIEs) in...

Democratic countries with substantial inequality and where people believe that success depends on connections and luck induce political support for high tax rates and generous welfare states. Traditional wisdom is that such policies harm the economy, but there is not much evidence that countries...