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First there was the “East Asian Miracle”; now comes the “Asian century.” The aftermath of the recent global economic crisis has reinforced a sense that the world is “shifting East”—to Asia. In a new paper, author Razeen Sally looks at the unprecedented expansion of economic freedom in Asia. “All over Asia, space is opening up for Smithian natural liberty,” argues Sally. “Policy, technology, and markets have unleashed animal spirits, particularly among the hungry, aspiring, hard-working younger generation. What a contrast with much of the West today, particularly in Europe.”

• “Asia’s Story of Growing Economic Freedom,” by Razeen Sally

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Source: CATO HEADLINES