Economic prosperity has come to be associated with good institutions--open markets, electoral democracy, capable bureaucracies. However, it is hard to take that narrative to East Asia where either historically (e.g. Korea in the 1960s) and today (e.g. China, Vietnam) the successful episodes hardly fit the model of open markets supported by "rule of law." Pritchett emphasizes the notion of "deals capitalism" in which proprietor rights grounded in person and organization specific deals dominate neutrally enforced rules of property rights.