Why the World Isn't Flat

According to the conventional wisdom popularized by Thomas Friedman, countries can grow rich only by means of unfettered capitalism and pure free trade. In his controversial book, Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, Ha-Joon Chang takes aim at this orthodoxy. Combining irreverent wit with scholarly rigor, Chang shows that nations like the U.S. that achieved their present wealth by means of economic nationalism now preach an entirely different set of policies to the developing world, via the World Bank, International Monetary Fund and World Trade Organization. Chang calls on us not only to re-evaluate the policies we promote to countries seeking to grow rich, but also to become reacquainted with our own forgotten economic history.

Ha-Joon Chang has been described by one economist as "the most exciting thinker our profession has turned out in the past fifteen years." He teaches at Cambridge University, where he received his Master's degree and doctorate. A consultant for the Wold Bank, the Asian Development Bank, the UN and other international organizations, he was awarded the Leontief Prize for Advancing the Frontiers of Economic Thought in 2005. His book Kicking Away the Ladder: Development Strategy in Historical Perspective (2002), which received the Myrdal Prize, was acclaimed by the eminent MIT economist Charles Kindleberger as "a provocative critique of mainstream economists' sermons directed to developing countries."

Category:

News & Politics

Tags:

• Capitalism
• Economy
• Economics
• Developing
• Countries
• History

[Air420]

Ha-Joon Chang mops the floor with Thomas Friedman!

[neonaction]

Milton Friedman just got owned.

[quinnrasta]

@Auraruth8 Well said, government is there to enforce contracts and yes protect its citizens from harming one another, but government goes beyond their means and starts creating laws to punish citizens from engaging in socially advantageous acts. the government is there to be the shield not the sword. Government IS there to keep law and order, but should not interject when there is no harm committed. You have been a pleasure to have an intelligent discussion with you, best of luck!!!

[Auraruth8]

@Auraruth8 But we have different ideas is on how we get to the next level but anyhow nice talking to you. that link you gave was an interesting one, hope you achieve what you want I know I will certanly try. Good luck. =)

[Auraruth8]

@quinnrasta But anyway we both know so much and we both want freedome so I think its pretty impossible for the two of us to change our stance on these issues, but I think we also might agree on a lot. But we both know that government created possibilities for people to an extent, right like keaping law and order. That is what makes commerse possible for instance. Continues- =)

[Auraruth8]

@quinnrasta The constitutuion also supported slavery (if Im not mistaken, if so than correct me) so again it depends on where you put your faith. I put my faith in democracy(and that is not what we have today). For instance worker owned buissnisses and we can get there through the government and government policy. And then government owning the banks, thats basically it developing democracy as much as possible. NO ONE in govenments talk about that.

[Auraruth8]

@quinnrasta Again that can be interpreted in a few ways... It comes down to how it is interpreted(the constiution) and if you look at the polls the population is greatly in favor of, social security for instance. So the only "crime that is commited against the rich is that the poor take some of their money now you could eliminate this crime by having the government own all the centralbanks if not even all the banks and get rid of taxes. But anyway: Chomsky and Chang =)

[Auraruth8]

@quinnrasta Chile Protests: Al Jazeera's Fault Lines Follows Student Movement

Watch it. =)

[quinnrasta]

@Auraruth8 “Congress has not unlimited powers to provide for the general welfare, but only those specifically enumerated.” — Thomas Jefferson, “I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.” — James Madison

[quinnrasta]

@quinnrasta "This specification of particulars [the 18 enumerated powers of Article I, Section 8] evidently excludes all pretension to a general legislative authority, because an affirmative grant of special powers would be absurd as well as useless if a general authority was intended." - Alexander Hamilton, Federalist 83 This clause if often intentionally misinterpreted by liberals to promote spending on their constituents for their relecetion

[quinnrasta]

@Auraruth8 “The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;”The powers delegated by the proposed Constitution to the federal government are few and defined . . to be exercised principally on external objects, as war, peace, negotiation, and foreign commerce." James Madison

[quinnrasta]

@Auraruth8 Chile's economy is far better off than the rest of Latin America and they are partially a free market, but more so than any other in Latin America. Chile ranks 7th for economic freedom and they are trending upward with President Sebastian Piñera and his center-right Alianza coalition assumed power in 2010. They have a median income of $15,000 and growth of 5.3%, but like the United States they have a top tax rate of 40%,a VAT and gov spening 24.1% of GDP, but debt under 10%