Hong Kong, an aspirational society to emulate
Why is Hong Kong succeeding while New York City is receding? They are both world-class cities with about the same per-capita income and great natural harbors. New York is about 15 percent larger in population, while Hong Kong is about one-third larger in area (but unbuildable because of the steep terrain). Both have large immigrant populations who are seeking better lives.
In my column last week, I explained how much of Hong Kong’s success was a result of it having the freest economy in the world, with low levels of government spending, low tax rates, a minimum of government regulation and the rule of law.… Seguir leyendo »