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68 reviews for:
Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
Ha-Joon Chang
68 reviews for:
Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
Ha-Joon Chang
This is an excellent book that shows how protectionism helped today's rich countries become rich. Chang successfully dismantles the neo-liberalistic lies that a market should be as free as possible in order for nation's to become richer. This is simply not true. There is also an axis of evil consisting of IMF (international monetary fund), the World Bank and the World Trade Organization (WTO) that through recent history has imposed rules on poor countries that have had to borrow money, which have further impoverished them.
Now, I live in a "rich" country, Norway. Sadly, this country's politicians have to a large degree bought into the lies of the Chicago boy's club, neoliberalism. Although not a member of the EU, Norway is a member of EEA, and thus have had rules of free movement of labor and other things imposed. I am derailing a bit here, but, we do NOT live in a post-industrial world of service. We definitely live in a society that thrives on production. Sadly, Norway has dismantled much of its industry, so that, aside from oil, we have very little left. This has been out-competed by cheaper competition abroad and through foreign investment having bought in to and then sold off Norwegian companies. We are also swamped by cheap labor from some EU countries, that erode the wage levels in Norway and the foundation on which society rests. Even in this global pandemic, there has been no restrictions - or even enforced testing - on the free labor movement. So this happens in Norway, which is still, by all definition "rich" (for as long as we have oil and there is a demand for it) - think of what happens to countries who have only fledgling industries which are forced into free trade. Correct, it goes to hell.
The economics of society and the world is a table that we choose to set. In a completely deregulated society, we would - as Chang says - not invest in a child's education, but send them to work when they were six years old. We also need to invest in young industries, in order to reap rewards later, and that means protecting them from competition until they are mature.
Now, I live in a "rich" country, Norway. Sadly, this country's politicians have to a large degree bought into the lies of the Chicago boy's club, neoliberalism. Although not a member of the EU, Norway is a member of EEA, and thus have had rules of free movement of labor and other things imposed. I am derailing a bit here, but, we do NOT live in a post-industrial world of service. We definitely live in a society that thrives on production. Sadly, Norway has dismantled much of its industry, so that, aside from oil, we have very little left. This has been out-competed by cheaper competition abroad and through foreign investment having bought in to and then sold off Norwegian companies. We are also swamped by cheap labor from some EU countries, that erode the wage levels in Norway and the foundation on which society rests. Even in this global pandemic, there has been no restrictions - or even enforced testing - on the free labor movement. So this happens in Norway, which is still, by all definition "rich" (for as long as we have oil and there is a demand for it) - think of what happens to countries who have only fledgling industries which are forced into free trade. Correct, it goes to hell.
The economics of society and the world is a table that we choose to set. In a completely deregulated society, we would - as Chang says - not invest in a child's education, but send them to work when they were six years old. We also need to invest in young industries, in order to reap rewards later, and that means protecting them from competition until they are mature.
Hmmm...thought provoking approach to global economics, but to me, often lacked the level of analysis and focus I felt was required to make the case. Ha-Joon Chang's conclusions are a different perspective over the Western media bias and probably have a lot of merit, but in spite of his examples, the book left me with more questions than answers. For example, his South Korean examples (his native country) seemed to contrived and convenient at times and I felt there was more to the story that in the end, may or may not support the author's position.
In any event, it will guide my reading to others that may share his position to further inform me.
In any event, it will guide my reading to others that may share his position to further inform me.
This book helped revealed some of my own personal blind spots to me. I did not know about developmental economic (and potentially moral) grounds for nationalizing certain industries, limiting patent coverage and keeping off foreign investments. I also had not identified cultural arguments for certain countries' developmental stagnation as ex post facto arguments, and that culture is not destiny. He's also argued against balancing national accounts, as is to be expected.
Chang's arguments were straightforward, to the point of being over-simplistic in some instances. Don't expect many numbers and details of vigorous studies in this book, though those who wish to know more can always consult his notes. It's a gentle introduction to the critique of neo-liberalism policies in simple language with newbie-friendly analogies. It can also be seen as a call-to-arms for developing countries to resist neoliberal policies imposed by the IMF, WTO, and The World Bank. It was fun and easy reading while it lasted, but I suspect that in an attempt to send a clear message, he's omitted quite a lot of the whole picture here.
Chang's arguments were straightforward, to the point of being over-simplistic in some instances. Don't expect many numbers and details of vigorous studies in this book, though those who wish to know more can always consult his notes. It's a gentle introduction to the critique of neo-liberalism policies in simple language with newbie-friendly analogies. It can also be seen as a call-to-arms for developing countries to resist neoliberal policies imposed by the IMF, WTO, and The World Bank. It was fun and easy reading while it lasted, but I suspect that in an attempt to send a clear message, he's omitted quite a lot of the whole picture here.
The books offers such clarity of thinking and encourages critical thought.
Muy bueno, un libro indispensable para cambiar la perspectiva sobre las posibilidades de desarrollo de las naciones del tercer mundo.
Desafía convencionalismos sobre el desarrollo de las naciones, la inflación, el crecimiento, la austeridad, el endeudamiento y la disciplina fiscal entre otras cosas.
Desafía convencionalismos sobre el desarrollo de las naciones, la inflación, el crecimiento, la austeridad, el endeudamiento y la disciplina fiscal entre otras cosas.
taking thomas freidman to task.
very interesting history of the apparent benefit of 'protectionist' economies. understandable to me w/ a casual interest in economics and little training.
very interesting history of the apparent benefit of 'protectionist' economies. understandable to me w/ a casual interest in economics and little training.
informative
reflective
fast-paced
challenging
informative
fast-paced
Nice takedown of neoliberalism and free trade and why it doesn't work and free trade is something the Imperial core imposes on the periphery which keeps it underdeveloped with slow growth and high inequality. I don't think any normal people believe in the "Lexus and olive tree" BS anymore it is good that it is broken down in clear language why no country ever got rich adhering to free trade. Uses the infant industry concept to argue for protectionism (not a dirty word). Good stuff.