Comments by "Winston Smith" (@kryts27) on "Why Are Taiwan Salaries So Low?" video.

  1. Good economic theories, except no one, repeat no one, tests or even tries to gauge the effect on the overall economy from corruption (political kickbacks, classes of politically favoured people, paying to skirt around the law and so on). This is a under-studied element of political-economic culture. Note that Taiwan is generally good in curbing corruption, wheras mainland China is the opposite in this regard. I belive that the level of systemic corruption is a function of rule of law, and independant judiciary, which mainland China lacks and must have a deeply negative economic impact.
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