All Segments
Segments Timeline
The Efficiency Fallacy in China's Growth
Arthur Kroeber challenges the common perception that China's growth could be significantly improved by eliminating waste and inefficiencies. He argues that the current economic models, heavily influenced by U.S. standards, overlook the unique factors that have fueled China's rapid development. Kroeber emphasizes that China's ability to mobilize vast resources, even in a seemingly uncoordinated manner, has been crucial to its success, suggesting that a more efficient approach might have stifled growth and increased inequality.
"Look, I mean, they're still at like a fifth of American national income per capita. Why isn't China more successful? People often say, "Well, there's all this waste and there's too much stateowned ent..."
The Efficiency Fallacy in China's Growth
Arthur Kroeber challenges the common perception that China's growth could be significantly improved by eliminating waste and inefficiencies. He argues that the rapid growth China has experienced is partly due to its ability to mobilize vast resources in an uncoordinated manner, which, while wasteful, has allowed for broader investment across various regions, including those that are geographically disadvantaged. This segment explores the misconception that efficiency is the only path to success, highlighting the unique factors contributing to China's economic trajectory.
"Look, I mean, they're still at like a fifth of American national income per capita. Why isn't China more successful? People often say, "Well, there's all this waste and there's too much stateowned ent..."