The following are minutes and proceedings during the Economic
Freedom Network (EFN) Asia Conference 2014, Hong Kong, on the theme, “Liberalism: Promoting Growth, Reducing Inequality”, November 2014. Major sponsors were the Friedrich
Naumann Foundation for Freedom (FNF), a liberal political foundation based in
Germany, and the Lion Rock Institute (LRI), a free market think tank in
Hong Kong.
These notes were made by Karthik Chandra of the Foundation for Democratic Reforms, INDIA.
The 25-pages notes are posted in
I am reposting them by major segments and installments, plus my brief personal notes on
each segment. Here’s the 1st installment.
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Day 1: November 6, 2014
Introduction to the EFN 2014 Conference by MC, Wan Saiful
Wan Jan
Chief Executive, Institute for Democracy and Economic
Affairs (IDEAS), Malaysia
Welcoming Remarks
Bill Stacey,
Chairman, LRI
• Welcome to Hong Kong! Given the recent developments
(citizens’ demands and mobilization) in Hong Kong (HK) serving as the backdrop,
this certainly is a good and clearly an interesting time for all the
participants to assemble in Hong Kong, especially to discuss about inequality,
liberty and freedom.
• There is an image of HK in some quarters of the media
that capitalism here is of the crony variety and that there is no true economic
freedom or liberty for its citizens. But the reality is that for a city of 7
million population, there is a lot of economic freedom and enterprise.
• At the heart of the current political developments
seems to be a vigorous debate about two freedoms – economic and political. But,
there is no conflict between the two. Those institutions that ensure economic
freedoms in the form of greater equality, growth, prosperity and overall
economic freedom also underpin the political freedoms. A few such institutions
are free flow of information and rule of law.
• ‘Liberalism’ as understood in the traditional sense
should not be viewed as an end in itself. There is a difference between
treating people equally and keeping/ensuring that they remain equal.
Siegfried Herzog
Regional Director, FNF, Southeast and East Asia
• Welcome to Hong Kong EFN Conference. EFN Asia
Conference has become a long established tradition, this event being the
sixteenth one; this is my first one as a Regional Director. Thanks to the LRI
and the Frasier Institute for being our partners. LRI is also celebrating its
10th anniversary; congratulations to them.
• Events such as the EFN 2014 greatly help
institutionalize the ideas, research, debates and international experiences
help them become a part of the political and academic discourse on economic
freedoms.
• This event is being held in the background of the
furious debate over political and economic freedoms of HK vis-a-vis China. HK
has long served as the global leader of economic freedom. Now, the debate is
about its political freedoms; about ensuring the rule of law and independence
from political interference in HK.
• Currently, there is also a great debate on economic
inequality. The idea of ‘economic equality’ retains a lot of appeal despite the
fact that communism and socialism have repeatedly failed to ensure the same,
based on our experiences in several countries.
• At the same time, this debate also touches upon the
issue of social mobility and how crony capitalists and well-connected gamers
have managed to subvert economic institutions and thereby gain undue benefits.
• This conference therefore is a valuable contribution
towards helping settle the above debate because it provides a platform for
sharing of knowledge and bringing new ideas into an area that has been
traditionally dominated by left-leaning thinkers or misguided activists.
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Me: Right, the (classical)
liberal definition of equality is equality before the law, equal application of the law to unequal people,
equality in access to opportunities with no exception or people giving
exemptions. And inequality of
outcome, of income and assets ownership, is the natural result because people
have different attitudes in life.
-----------See also:
EFN Asia 43: Day 1 of Conference 2014, November 06, 2014
EFN Asia 53, Successful Conference 2015 has ended, November 25, 2015
EFN Asia 54, On Hong Kong and China, free trade and CEPA, January 27, 2016
EFN Asia 55, Presentation by Tom Palmer in Bhutan 2015, February 03, 2016
