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RE: Is A World Full Of Developed Economies Possible, Or Are Developed Nations Stopping That From Happening?

in #money8 years ago

The economist Ha-Joon Chang's book Bad Samaritans gives a fresh look on this, and also completely debunks what was said here before in the comments about free markets and trade barriers.

"Bad Samaritans was an introduction to open-minded economists and political free-thinkers to Ha-Joon Chang's theories of the dangers of free-trade. With irreverent wit, an engagingly personal style, and a keen grasp of history, Chang blasts holes in the "World Is Flat" orthodoxy of Thomas Friedman and others who argue that only unfettered capitalism and wide-open international trade can lift struggling nations out of poverty. On the contrary, Chang shows, today's economic superpowers-from the U.S. to Britain to his native Korea-all attained prosperity by shameless protectionism and government intervention in industry, a fact conveniently forgotten now that they want to compete in foreign markets. Chang's cage-rattling, contrarian history of global capital appeals to readers new to economic theory as well as members of the old school looking for a fresh take."