“People in Hong Kong depended not on the government but on themselves and their families. They worked hard and tried their luck in business, hawking or making widgets, or buying and selling. The drive to succeed was intense; family and extended family ties were strong. Long before Milton Friedman held up Hong Kong as a model of a free enterprise economy, I had seen the advantage of having little or no social safety net. It spurred Hong Kong’s people to strive to succeed.”
