John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

I refer to Deputy Michael McGrath's questions about Professor McDonough's economic thesis. Professor McDonough identified South Korea as an example of a banking sector that worked. There must have been a successful society or country at some stage in history on which he is basing his arguments. Most financial theories are based on an example that worked. I am not asking him to identify one specific society but where is the basis?