Why isn’t Hong Kong like the rest of Asia?

Visit almost any part of Asia and you’ll find poverty (although much more so in some countries than others), but in Hong Kong, you find a wondrous, bustling, wealthy city-state. Why is it so different? Larry Reed explains in today’s Freeman piece. It was due to the laissez-faire philosophy of Sir John Cowperthwaite, who figured that the colony would prosper under capitalism after World War II, as opposed to the socialistic, big-government welfarism that dominated throughout the rest of the British Empire.

I suppose that Obama zealots would reply, “But look at how much work those people do. Socialism and the welfare state would give them a much-needed break.” That’s the risible line they’re taking with the anti-employment consequences of Obamacare.

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