What do you guys think? I don't have much of a comment because I read Lee Quan Yew (first president of Singapore) on how he and some close advisors built up Singapore after indepedence and this is exactly what they did and results speak for itself.

I. Thou shalt blame only thyself for thy failures in development. Blaming imperialism, colonialism, and neo-imperialism is a convenient excuse to avoid self-examination.

II. Thou shalt acknowledge that corruption is the single most important cause of failures in development. Developed countries are not free from corruption, but with their affluences they can afford to indulge in saving and loan scandals.

III. Thou shalt not subsidize any product, nor punish the farmer in order to favor the city dweller. High prices are the only effective signal to increase production. If there are food riots, thou shalt resign from office.

IV. Thou shalt abandon state control for free markets. Thou shalt have faith in thine own population. An alive and productive population naturally causes development.

V. Thou shalt borrow no more. Thou shalt get foreign investment that pays for itself. Thou shalt build only the infrastructure that is needed and create no white elephants or railways that end in the deserts. Thou shalt accept no aid that is intended only to subsidize ailing industries in developed countries.

VI. Thou shalt not reinvent the wheel. Millions of people have gone through the path of development. Take the well-traveled roads. Be not prisoners of dead ideologies.

VII. Thou shalt scrub the ideas of Karl Marx out of thy mind and replace them with ideas of Adam Smith. The Germans have made their choice. Thou shalt follow suit.

VIII. Thou shalt be humble when developing and not lecture the developed world on their sins. They listened politely in the 1960s and 1970s. they no longer will in the 1990s. [still relevant in 2000s]

IX. Thou shalt abandon all North-South forums, which only encourage hypocritical speeches and token gestures. Thou shalt remember that countries that have received the greatest amount of aid per capita have failed most spectacularly in development. Thou shalt throw out all theories of development.

X. Thou shalt not abandon hope. People are the same the world over. What Europe achieved yesterday, the developing world will achieve tomorrow. It can be done.

Conservative Principles for Economic Development « The Postnational Monitor

I'll agree with most of that, but not on the issues of subsidisation and state control. Most of the Tiger Economies of Asia did use subsidies and tariffs at various points. This has to be done carefully, to develop industries, but not to coddle them once they're strong enough to stand alone. South Korea managed it well, but many countries don't.
And on State Control, this can work well in certain areas. In Europe, most countries have State Control of railways, and they are much more efficient than the countries that have privately-run systems. Post-soviet Russia is a good example where the government nationalised certain industries from the corrupt oligarchs who ran them before, and living standards are now much higher. Of course, again you have to be careful not to slip into the inefficient monopolies of Communism, but if you do it right it can work very well.

__________________
... I am surprised at your insolence in writing to me at all. You know, as I know, that I bought this constituency... may God's curse light upon you and may it make your women as open and as free to the excise officers as your wives and daughters have always been to me while I have represented your scoundrel corporation.
I have the honour to be... your obliged humble servant, Anthony Henley
- MPs reply to constituent, mid 1700s