How Rich Countries Got Rich ... and Why Poor Countries Stay PoorPublicAffairs, 2007 M08 22 - 320 pages In this refreshingly revisionist history, Erik Reinert shows how rich countries developed through a combination of government intervention, protectionism, and strategic investment, rather than through free trade. Reinert suggests that this set of policies in various combinations has driven successful development from Renaissance Italy to the modern Far East. Yet despite its demonstrable sucess, orthodox developemt economists have largely ignored this approach and insisted instead on the importance of free trade. Reinart shows how the history of economics has long been torn between the continental Renaissance tradition on one hand and the free market theories of English and later American economies on the other. Our economies were founded on protectionism and state activism—look at China today—and could only later afford the luxury of free trade. When our leaders come to lecture poor countries on the right road to riches they do so in almost perfect ignorance of the real history of national affluence. |
From inside the book
Results 1-3 of 23
Page 11
... Washington Consensus.11 Appearing on the scene in 1990 , immedi- ately after the fall of the Berlin Wall , the Washington Consensus required , among other things , trade liberalization , liberalization Discovering Types of Economic ...
... Washington Consensus.11 Appearing on the scene in 1990 , immedi- ately after the fall of the Berlin Wall , the Washington Consensus required , among other things , trade liberalization , liberalization Discovering Types of Economic ...
Page 204
... Washington Consensus ' . These policies appeared on the scene in 1990 , immediately after the fall of the Berlin Wall , and are associated with American economist John Williamson . As a set of commandments the Washington Consensus ...
... Washington Consensus ' . These policies appeared on the scene in 1990 , immediately after the fall of the Berlin Wall , and are associated with American economist John Williamson . As a set of commandments the Washington Consensus ...
Page 205
... Washington Consensus rules , but growth - particularly increasing real wages - failed to materialize in many countries . One initial reaction to this was the same as that observed when huge social problems emanated from the liberal ...
... Washington Consensus rules , but growth - particularly increasing real wages - failed to materialize in many countries . One initial reaction to this was the same as that observed when huge social problems emanated from the liberal ...
Contents
Discovering Types of Economic Theories | 1 |
The Evolution of the Two Different Approaches | 21 |
How Rich Countries Got Rich | 71 |
Copyright | |
8 other sections not shown
Other editions - View all
How Rich Countries Got Rich ... and Why Poor Countries Stay Poor Erik S Reinert Limited preview - 2019 |
How Rich Countries Got Rich ... and Why Poor Countries Stay Poor Erik S. Reinert No preview available - 2019 |
Common terms and phrases
Adam Smith agriculture argued assumptions Canon capital cent century colonies comparative advantage core costs created David Ricardo deindustrialization devel diminishing returns division of labour dynamic economic activities economic development economic growth economic policy economic structure economic theory economists effects emulation England English Erik Reinert Europe European example export factors farmers free trade Friedrich List globalization herders human imperfect competition important income increasing returns increasing returns activities industrial policy industrial sector innovations international trade manufacturing sector Marshall Plan mechanisms Mongolia Morgenthau Plan neo-classical economics Norway opment paradigm Peru political poor countries poverty problems productivity explosions protection qualitative raw materials real wages Ricardian Ricardo rich countries Saami Schumpeter Schumpeterian social society standard economics standard textbook economics strategy synergies tariffs technological change tend Third World today's toolbox trade theory type of economic understanding United Venice wage level Washington Consensus Washington institutions wealth welfare World Bank