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by newyankee 2405 days ago
At the end of the day RCT and other experiments will help us with allocating of the pie but not growing the pie itself.

e.g.India with a comparable population to China can only distribute so much with a 2.7 T $ economy compared to China with a 12 T $ economy.

I definitely feel that at least a few Chinese policymakers deserve the Nobel prize for actually lifting people out of poverty. You can debate their methods but i think most people from Western schools of thought come with an inherent bias thinking what worked for them over so many decades would've similarly worked for China which is not really true. This has to do with cultural difference, huge population and many other numerous reasons.