If the author bothered to do some research, they would find that Hong Kong’s well-developed economy is the product of the deregulation that libertarians strive for. Furthermore, Japan offers very little for welfare, with some citizens starving before they receive aid.
Yes but Hong Kong has a ton of social housing or government housing. It also has a monumental problem of very poor people who are more or less festering in some very rundown areas. The gap between the rich and the poor is simply off the charts insane.
The Hong Kong solution (basically no state, no regulation of business whatsoever and little to no social spending) is the model for the 3rd World forever now. The “Hong Kong model” has been more or less tried and failed in both the current 3rd World and in the West in the past. I don’t even think it works that well in Hong Kong, but that’s just the socialist in me.
The results have been disastrous. The West, including the US, had a more or less libertarian society along those lines in the 1800’s. The effects were similarly catastrophic, similar to 3rd world societies today.
Japan basically has a welfare state, but the welfare state is provided by the corporations instead of the government. But that’s equally opposed to Libertarian profit-maximization theories to have corporations wasting so much money on such profit-deflating “inefficiencies.”