A radical look by a leading economist at the issues surrounding globalization...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 …
A radical look by a leading economist at the issues surrounding globalization...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'.
The Bad Samaritans of the title are the rich countries and their instruments, the IMF and the World Bank who "help" developing countries with policies that ensure they remain in their place of low-wage, low-technology producers of cheap industrial and agricultural goods.
It does an excellent job of exploding the myths of neo-liberal economics and making alternative suggestions on how we can build a more equitable global economy.
I picked up this book expecting a straight critique of free trade, but it is more about how free trade keeps poor countries down, and the double standards that rich countries use to do it. A slightly different angle of analysis than I expected, but valuable and enlightening nonethless. Chang Ha-Joon's tone is conversational, but there are still some heavy economic sections where my eyes glazed over a bit. I don't have the economics background to critically read those sections. However, the endless counter-examples that he rolls out are valuable, knowing what I do about the neoliberal narrative.
This is the first time I have read one of Chang Ha-Joon's books. I hadn't heard of him until recently. This book was published in 2007. I enjoyed it, and recommend it, and am now motivated to find out what his thoughts are post-2008 financial crisis.
The first half is an eye opener - Me, "Wow, the guy is absolutely right." The second half is rather subjective. - Me, "Maybe that could be true, but I don't know. Kind of thin." Read the first half and if you're not hooked let it go and move on to the next book in your queue.
