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Karthik Sankaran @RajaKorman
, 5 tweets, 2 min read Read on Twitter
Most arguments about divergent economic outcomes being the result of different economic systems rely on evidence that is more properly attributed to divergent levels of state capacity and the interaction of state capacity and economic/technological complexity. That’s all.
Cc:@DanielaGabor the diagram is up.
The way to think about the But Sweden!! But Venezuela !!!! argument is that most people are looking at the wrong independent variable.
It’s also probably not an accident that Ricardo Hausmann, who runs the Atlas of Economic Complexity, is Venezuelan. So one question is why Chavismo is a disaster. Another is why pre-Chavist “Capitalist” Venezuela failed to develop an economy that was more diversified.
It would also be an amazing project to trace the locations of different countries/regions with their X, Y, Z coordinates over time. @pseudoerasmus ?
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