Bad samaritans

the myth of free trade and the secret history of capitalism

By Chang, Ha-Joon

Publishers Summary:
Contrarian economist Chang blasts holes in the "World Is Flat" theories of Thomas Friedman and other neo-liberal economists 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 United States to Britain to his native South Korea--all attained prosperity by protectionism and government intervention in industry. We in the wealthy nations have conveniently forgotten this fact, telling ourselves a fairy tale about the magic of free trade and forcing policies that suit ourselves on the developing world. Unlike typical economists who construct models of how economies are supposed to behave, Chang examines the past: what has actually happened. He calls on America to return to its abandoned role, embodied in programs like the Marshall Plan, to offer a helping hand, instead of a closed fist, to countries struggling to follow in our footsteps.--From publisher description.

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ISBN
978-1-59691-399-8
Publisher
New York : Bloomsbury Press : 2008.


REVIEWS

Library Journal

Reviewed on January 15, 2008

Chang (economics, Cambridge; Kicking Away the Ladder) presents a sharp criticism of the world's economic superpowers, which act as "bad Samaritans" in advocating free markets and free trade in developing countries so as to capture larger shares of their markets and obstruct the emergence of possible competitors in those countries. The solution, according to Chang, is for the rich countries to return to their historic role of helping poorer nations, supporting protective policies and subsidies in developing countries...Log In or Sign Up to Read More

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