Michael E. Porter developed the "Diamond System" to challenge classical economists' thoughts (e.g., David
Ricardo's). What are the differences among classical economists' thoughts (western thoughts), Michael E. Porter's thoughts (western thoughts), and Asian 4 Tigers' methods of rapid economical growth (eastern thoughts)? Also, "fit" is the key reason for South Korea's success during the 1963-1993 period of time. What does it mean?
Michael Porter's model of "Diamond System" gives an insight into the fact that some countries are more developed and... View the full answer