It's rare that a book appears with a fresh
perspective on world affairs, but renowned economist
Ha-Joon Chang has some startlingly original things to
say about the future of globalization. In theory, he
argues, the world's wealthiest countries and
supra-national institutions like the IMF, World Bank and
WTO want to see all nations developing into modern
industrial societies. In practice, though, those at the
top are 'kicking away the ladder' to wealth that they
themselves climbed. Why? Self-interest certainly plays a
part. But, more often, rich and powerful governments and
institutions are actually being 'Bad Samaritans': their
intentions are worthy but their simplistic free-market
ideology and poor understanding of history leads them to
inflict policy errors on others.Chang demonstrates this
by contrasting the route to success of economically
vibrant countries with the very different route now
being dictated to the world's poorer nations. In the
course of this, he shows just how muddled the thinking
is in such key areas as trade and foreign investment. He
shows that the case for privatisation and against state
involvement is far from proven.And he explores the ways
in which attitudes to national cultures and political
ideologies are obscuring clear thinking and creating bad
policy. Finally, he argues the case for new strategies
for a more prosperous world that may appall the 'Bad
Samaritans'. |
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