Economist Jeffrey Sachs argues that among developed countries those with high rates of taxation and high social welfare spending perform better on most measures of economic performance compared to countries with low rates of taxation and low social outlays. He concludes that Friedrich Hayek was wrong to argue that high levels of government spending harms an economy and "a generous social-welfare state is not a road to serfdom but rather to fairness, economic equality and international competitiveness". Austrian economist Sudha Shenoy responded by arguing that countries with large public sectors have grown more slowly.