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

Author

Listed:
  • Leo F. Goodstadt

    (School of Business Studies, Trinity College, University of Dublin)

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.

Suggested Citation

  • Leo F. Goodstadt, 2009. "A Fragile Prosperity: Government Policy and the Management of Hong Kong's Economic and Social Development," Working Papers 012009, Hong Kong Institute for Monetary Research.
    • Handle: RePEc:hkm:wpaper:012009
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    Keywords

    Hong Kong; Colonialism; Non-Interventionism; Welfarism; Population; Malthus;
    All these keywords.

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