How Rich Countries Got Rich ... and Why Poor Countries Stay PoorPublicAffairs, 2019 M10 1 - 432 pages A maverick economist explains how protectionism makes nations rich, free trade keeps them poor---and how rich countries make sure to keep it that way. Throughout history, some combination of government intervention, protectionism, and strategic investment has driven successful development everywhere from Renaissance Italy to the modern Far East. Yet despite the demonstrable success of this approach, development economists largely ignore it and insist instead on the importance of free trade. Somehow, the thing that made rich nations rich supposedly won't work on poor countries anymore. Leading heterodox economist Erik Reinert's invigorating history of economic development shows how Western economies were founded on protectionism and state activism and only later promoted free trade, when it worked to their advantage. In the tug-of-war between the gospel of government intervention and free-market purists, the issue is not that one is more correct, but that the winning nation tends to favor whatever benefits them most. As Western countries begin to sense that the rules of the game they set were rigged, Reinert's classic book gains new urgency. His unique and edifying approach to the history of economic development is critical reading for anyone who wants to understand how we got here and what to do next, especially now that we aren't so sure we'll be the winners anymore. |
From inside the book
Results 1-5 of 25
Page
... Keynes and Joseph Schumpeter both had theories of finance and crises, and some German economists distinguished between schaffendes Kapital, capital that created wealth, and raffendes Kapital, capital that only grabbed value without ...
... Keynes and Joseph Schumpeter both had theories of finance and crises, and some German economists distinguished between schaffendes Kapital, capital that created wealth, and raffendes Kapital, capital that only grabbed value without ...
Page
... ( Europe ) Nation - based capitalism : Create jobs in order to solve crises ( Keynes ) Global capitalism : Create money in order to solve crises (Mario Draghi) Nation-based capitalism: Strong government and labor unions (balance.
... ( Europe ) Nation - based capitalism : Create jobs in order to solve crises ( Keynes ) Global capitalism : Create money in order to solve crises (Mario Draghi) Nation-based capitalism: Strong government and labor unions (balance.
Page
... of deficits on other countries . In a paper written shortly before his death , Keynes argued that when a country's trade surplus is too large , this will eventually bankrupt its trading partners . This view was anticipated in Emmanuel.
... of deficits on other countries . In a paper written shortly before his death , Keynes argued that when a country's trade surplus is too large , this will eventually bankrupt its trading partners . This view was anticipated in Emmanuel.
Page
... Keynes wrote a seminal article , National Self - sufficiency.22 Correcting for the fact that the minimum efficient size of economic units is much bigger now than it was in the 1930s , this article merits rereading . The present rude ...
... Keynes wrote a seminal article , National Self - sufficiency.22 Correcting for the fact that the minimum efficient size of economic units is much bigger now than it was in the 1930s , this article merits rereading . The present rude ...
Page
... Keynes's 1933 article didactically takes the reader through the necessary change in ideology and mind-set which was embarked upon in 1933 and upon which the West now again needs to embark. Keynes first takes us through the reasoning ...
... Keynes's 1933 article didactically takes the reader through the necessary change in ideology and mind-set which was embarked upon in 1933 and upon which the West now again needs to embark. Keynes first takes us through the reasoning ...
Contents
| 8 | |
| 15 | |
Against | |
How the Poor Get Even | |
Red Herrings at the End of History | |
Why the Millennium Goals are a Bad Idea | |
Get the economic activities right or the Lost Art of Creating | |
David Ricardos Theory of Comparative Advantage | |
Frank Grahams Theory of Uneven Development | |
Philipp von Hörnigks Nine Points on How to Emulate the Rich | |
About the Author | |
Notes | |
Other editions - View all
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 capital Carlota Perez century colonies comparative advantage core costs created David Ricardo deindustrialization diminishing returns dynamic economic activities economic development economic growth economic policy economic structure economic theory economists emulation England English Erik Reinert Europe European export factors free trade Friedrich List globalization herders history of economic human imperfect competition important income increasing returns activities industrial policy industrial sector innovations international trade Keynes London manufacturing industry manufacturing sector Marshall Plan mechanisms Mongolia Morgenthau Plan neo-classical neo-classical economics Norway paradigm Peru political poor countries poverty problems productivity explosions protection qualitative raw materials real wages Ricardian rich countries Saami Schumpeter Schumpeterian social society Standard Canon standard economics standard textbook economics Starting point strategy synergies tariffs technological change tend Third World today’s trade theory type of economic understanding United University Washington Consensus Washington institutions wealth welfare World Bank