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A Fragile Prosperity: Government Policy and the Management of Hong Kong's Economic and Social Development

Leo F. Goodstadt
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Leo F. Goodstadt: School of Business Studies, Trinity College, University of Dublin

No 12009, Working Papers from Hong Kong Institute for Monetary Research

Abstract: This paper examines the impact of 'ideological' preconceptions on Hong Kong policy-making both during and after the colonial era. An abiding commitment to laisser faire reflected demographic anxieties that were not dispelled by sustained, high-speed economic growth. Economic pessimism was encouraged by the influence of Malthus and John Stuart Mill and the rejection of Keynesianism although the economy was never as vulnerable as officials claimed. The analysis identifies the continuing costs, particularly for social policy, of official misconceptions about Hong Kong fundamentals.

Keywords: Hong Kong; Colonialism; Non-Interventionism; Welfarism; Population; Malthus (search for similar items in EconPapers)
Pages: 27 pages
Date: 2009-01
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