Government forcing of economic development

The "economic miracles" witnessed in Japan, the Republic of Korea and Taiwan, Province of China are not entirely the miracle of the market but of extremely effective government intervention. Well-targeted subsidies, collective policies towards foreign direct investment and controls on imports, all were used successfully by these countries at their early stages of economic advantage. These policy regimes should not be seen as deviations from laissez-faire capitalism but as examples of forced-pace advance of industrial capitalism under the auspices of a state that is simultaneously the servant and the master of business enterprise.