The Developmental State

The Developmental State is a concept in political economy where the government plays a proactive role in guiding economic growth and development. This often involves strategic planning, investing in infrastructure, and supporting key industries to promote national interests. The government collaborates with businesses to foster innovation, create jobs, and reduce poverty. Countries like South Korea and Taiwan have historically implemented this model, achieving rapid economic progress. The focus is on balancing state intervention with market forces to achieve sustainable development and improve the overall quality of life for citizens.