Is the age of the growth miracle at an end?

By R.A. | WASHINGTON

LAST week, Project Syndicate published a column by economist Dani Rodrik, in which he argued that the age of the "growth miracle" was over. Industrialisation, long the engine of economic development, is becoming less able to support catch-up growth, he suggested, thanks to the falling labour-intensity of manufacturing, Chinese competition, and a rising mercantilist tide across the rich world. I took issue with Mr Rodrik's claim, pointing out that emerging markets seem, if anything, to be doing great relative to historical norms. Moreover, new research seems to suggest that changing production models may make it easier than ever to industrialise.

I decided to put the question to the economists in our By invitation network. You can see the responses we've received so far here. Michael Pettis is sympathetic to Mr Rodrik's argument: