This is a variation of a very old philosophy called legalism. They didn't have HDI and GDP in those days, but the idea was that you should judge civil servants and government policies based on objective results rather than morality. It worked when there was a strong and relatively neutral emperor / chancellor to make and enforce those judgements impartially. In the modern day, Singapore might be an example of this. But the problem is that you still need a strong and relatively neutral institution to make and enforce judgements fairly.
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