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Asian Drama Revisited: Myrdal’s Insight in the Development of Southeast Asia

Asian Drama Revisited: Myrdal’s Insight in the Development of Southeast Asia AbstractGunner Myrdal’s Asian Drama was the first serious and somewhat pessimistic study on the postcolonial development prospects of newly independent Asian countries. Since the world is in the grips of covid-19 pandemic and facing disrupted global supply chains, it is worth reflecting on the Asian Drama and rediscovering some of its insights. The rapid growth of Southeast Asian countries at the beginning of the twenty-first century may have proved Myrdal’s pessimistic outlook wrong, but his concern over the balance between state and market is still valid as it informs countries in the region that they should be more cautious in pursuing their current industrial policies. This is more so when Keynesian foresight is married to Myrdal’s forecast of development and economic growth, the precariousness of Southeast Asia’s development prospects post-pandemic is more pronounced. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Bandung: Journal of the Global South Brill

Asian Drama Revisited: Myrdal’s Insight in the Development of Southeast Asia

Bandung: Journal of the Global South , Volume 10 (2): 20 – Jun 1, 2023

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
2590-0013
eISSN
2198-3534
DOI
10.1163/21983534-10020002
Publisher site
See Article on Publisher Site

Abstract

AbstractGunner Myrdal’s Asian Drama was the first serious and somewhat pessimistic study on the postcolonial development prospects of newly independent Asian countries. Since the world is in the grips of covid-19 pandemic and facing disrupted global supply chains, it is worth reflecting on the Asian Drama and rediscovering some of its insights. The rapid growth of Southeast Asian countries at the beginning of the twenty-first century may have proved Myrdal’s pessimistic outlook wrong, but his concern over the balance between state and market is still valid as it informs countries in the region that they should be more cautious in pursuing their current industrial policies. This is more so when Keynesian foresight is married to Myrdal’s forecast of development and economic growth, the precariousness of Southeast Asia’s development prospects post-pandemic is more pronounced.

Journal

Bandung: Journal of the Global SouthBrill

Published: Jun 1, 2023

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