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
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... of poverty – Morgenthau Plans 18 The qualitative differences between manufacturing and agriculture as perceived over time as ideal types or stylized facts Introduction to the 2019 Edition From manufacturing you may expect.
... of poverty – Morgenthau Plans 18 The qualitative differences between manufacturing and agriculture as perceived over time as ideal types or stylized facts Introduction to the 2019 Edition From manufacturing you may expect.
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... facts and experience, that carries little prestige. Using Veblen's terminology, we can argue that the overshooting into excessive abstractions corresponds to Veblen's idea that irrelevant education may contaminate healthy instincts of ...
... facts and experience, that carries little prestige. Using Veblen's terminology, we can argue that the overshooting into excessive abstractions corresponds to Veblen's idea that irrelevant education may contaminate healthy instincts of ...
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... fact lose from the single market. The EEC integration of Spain during the 1980s represented the last prototype integration in the nation-based economic paradigm, contrasting this with the global economic paradigm that took over.
... fact lose from the single market. The EEC integration of Spain during the 1980s represented the last prototype integration in the nation-based economic paradigm, contrasting this with the global economic paradigm that took over.
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... fact that China and Singapore are doing extremely well, it is also suggested by the fact that what is probably the least democratic European country in the former communist world – Belarus – is doing much better than the two democratic ...
... fact that China and Singapore are doing extremely well, it is also suggested by the fact that what is probably the least democratic European country in the former communist world – Belarus – is doing much better than the two democratic ...
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... 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 awakening requires the recognition that partial deglobalization may be necessary.
... 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 awakening requires the recognition that partial deglobalization may be necessary.
Contents
Against | |
How the Poor Get Even Poorer | |
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 assumptions 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 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 Washington Consensus Washington institutions wealth welfare World Bank