Today’s global drama

Over half a century ago, the Swedish Nobel Laureate Carl Gunnar Myrdal published his three-volume Asian Drama: An Inquiry into the Poverty of Nations (1968), which, based on a decade’s observations of economic growth and development in the emerging Asian countries, ultimately concluded that the vast and growing income gap between these countries and the industrialised nations would prevent them from overcoming the plagues of poverty and stagnation.

Myrdal did not live long enough to see the Asian economic boom in the last quarter of the 20th century, and he would have been astounded by the “Asian miracle” that closed the gap between East and West by leaps and bounds. 

Read the full article on AhramOnline here

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