“Lucid, deeply informed, and enlivened with striking illustrations, this penetrating study could be entitled ‘Economics in the Real...
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Nov 23, 2008
Zak
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When you steal books from Barnes and Noble, I feel you recognize that nearly any mass-produced economics tract deriding free-market capitalism is going to be a bit simple. If you already have an academic grounding in infant-industries theory or even a somewhat informed critique of globalization, you will most likely read this book in two days. With this said, I had a plane to catch in an hour, little pocket money, and limited options.
Anecdote aside, the reviews below me have well de More...
Anecdote aside, the reviews below me have well de More...
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Dec 14, 2011
Santo
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“Meat imports are restricted…, which not only benefits local farmers but also inspecting firms… The export of raw rattan is about to be prohibited, which will benefit the rattan industry… Businesses have to give priority to local products…”
These are only some of the arguments put forward by Hal Hill and Monica Wihardja in an op-ed in The Wall Street Journal, ringing alarm bells about anti-reformist forces in the Indonesian Government. They argued that in spite of the upgraded invest More...
These are only some of the arguments put forward by Hal Hill and Monica Wihardja in an op-ed in The Wall Street Journal, ringing alarm bells about anti-reformist forces in the Indonesian Government. They argued that in spite of the upgraded invest More...
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Jan 18, 2009
Dion
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This book outlines in a light narrative what I have suspected for a long time: free trade *can* be good, but applied wholeheartedly and blindly and at the wrong time is mostly destructive.
Fact: The US and Britain and Japan and South Korea built up their industries through pragmatic tariffs and government-sponsored protection/subsidization. NOT through the path of free trade. Almost no country has.
Free trade does *not* make you rich, it's what you want the other countries to More...
Fact: The US and Britain and Japan and South Korea built up their industries through pragmatic tariffs and government-sponsored protection/subsidization. NOT through the path of free trade. Almost no country has.
Free trade does *not* make you rich, it's what you want the other countries to More...
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Dec 17, 2011
Leo
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Amazing when you think how ideological Economics has become. Most of what comes out of the media is Chicago School "Free Market." However, I began to notice that the people with the most intellectual muster, like Princeton's Paul Krugman and Cambridge's Ha-Joon Chang (author of this book) have consistently stood against the tide.
As academics, they "stand outside" the world, and observe. They are also used to searing intellectual debate and precision as they face the More...
As academics, they "stand outside" the world, and observe. They are also used to searing intellectual debate and precision as they face the More...
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Nov 27, 2011
Void
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This book brings out very interesting facts and perspectives, and some beautiful historical data that you rarely find referenced. It's a pity this leads the author to very pre-selected conclusions. You know, i never really got why Mises insted in his treaty of economics to first analyze things on a pure logic abstract level. Now I do: as he apparently knew even almost a century ago, one can use history to argue quite opposing views, by picking data and times from a complex system, and indeed m
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Aug 28, 2011
Ilya
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In 1963, when the author was born, South Korea was one of the world's poorest countries, with half the per capita income of Ghana. The fratricidal war with interventions by the United States and China had destroyed half her industry and three quarters of her railways. The country's principal exports were fish, tungsten, and wigs made of human hair. In 1982, when the author finished high school, South Korea was a middle-income country, on par with Ecuador. In 1997, when he was an adult professor
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Feb 17, 2009
Peter
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One of the most readable, enjoyable, and important books on developing country economics.
Describes the history of the how the west developed, how countries in Asia are developing today. It basically recognizes that we developed by nurturing our infant industries, through taxing (tariffs) industrial goods from other parts of the world to allow underdeveloped industries to catch up to the rest of the world. It recognizes how we restricted foreign ownership and investment to ensure that it wo More...
Describes the history of the how the west developed, how countries in Asia are developing today. It basically recognizes that we developed by nurturing our infant industries, through taxing (tariffs) industrial goods from other parts of the world to allow underdeveloped industries to catch up to the rest of the world. It recognizes how we restricted foreign ownership and investment to ensure that it wo More...
Jan 26, 2010
Barry
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Mr. Chang provides a fairly convincing argument that the big capitalist countries in the world have rigged a system whereby they are the constant winners and other smaller countries are kept dependent on the big guys. With numerous examples and a range of points, Mr. Chang whittles away at the idea that the free market system is the best system out there.
That said, this book tends to get bogged down with too many details. While it is nice to see several examples to illustrate a point More...
That said, this book tends to get bogged down with too many details. While it is nice to see several examples to illustrate a point More...
Jan 12, 2011
Chris
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The more I educate myself in economics, the more I am convinced it is a science that can offer no more conclusive answers about public policy than philosophy does about ethics or the nature of the self. The difference being, that when I sit down to a philosophy text, my greatest expectation is that it will be a beautifully articulated series of beliefs that will raise questions I had never pondered, or present the world in a unique light. But I always expect these texts to fall short of their st
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Nov 16, 2008
Mathew
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Interesting enough, and a nice alternate view to the free market mantra unthinkingly chanted by dear leaders. Suffered from sports metaphors, oversimplification (forgivable, as an economic history for the average person can only get so technical - but it could have been a little more fact heavy), and a complete lack of proofreading.
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Dec 06, 2011
David
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This is an excellent primer for anyone not intimately familiar with neoliberal capitalism. The author does an excellent job of pointing out the historical examples in which the policies which the western world has blindly followed for the past 50 years have failed and contrasts different approaches which emerging countries have utilized to achieve much better results. This is a great argument for a strong role of government in developing industry and for a highly regulated economy. Conversely it
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Aug 18, 2009
Josh
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this looks like a boring me-too business book on the cover - a friend had to twist my nipple to get me to crack the cover. What a great surprise. The author takes the neo-liberal economist trade dogmas and exposes them as unproven and likely very damaging policy choices for the poor developing countries they are often forced upon. The label "neo-liberal" is confusing because these are ideas strongly supported by conservative politicians and violently supported by right wing commenta
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Jun 19, 2009
Rhesa
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I have read many books that's anti WTO, IMF & World Bank, majority of them are so biased and over simplyfing the complexity of reality, just as the pro's one, like Thomas Friedman's. But this book is different, Chang explains with convincing argument & rich datas that the preachers of free trade, in this case UK as well as US, were once an ultra protective countries, they imposed heavy tariffs & gave many subsidies to national companies, mostly SOE. Only when their domestic manufacturers reached
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Jul 23, 2011
Rebecca
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This is a really interesting book that addresses, with copious facts, the issue of Capitalism and how it doesn't really exist by those countries that so heavily preach it. A few examples are when Britain stopped sending raw wool to Denmark and Finland because they did not like that they exported the raw materials and then paid more for the finished goods. They hired the most skilled artisans from those countries, learned the skills themselves and only then, started exporting the goods again. Sim
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May 28, 2010
Todd
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In “Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism” author Ha-Joon Chang argues that the worst thing a budding economy could do is open its borders to free trade. A better strategy would be to adopt a protectionist strategy through the use of high tariffs, government subsidies of industries, and relaxation of intellectual property rights to foster technical advances that will ultimately allow the country to compete on the international market. These are the tactics t
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Feb 17, 2010
Willowwind
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A detailed rebuttal of free market ideology for the lay person from an award winning Cambridge economist born and raised in pre-industrial Korea. The author shows how the free market policies imposed by the IMF and World Bank have seriously damaged developing countries as well as setting the record straight about how the current industrial giants (far from practicing free trade) consistently protected their infant industries. This excellent and lucid book also deconstructs free market ideology i
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Dec 07, 2009
Robert
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Consider this a schooling of neo-liberal economics. Basically, Chang argues that developing economies need time to nurture their manufacturing industries in order to increase their standard of living. Further, opening up their markets in the manner endorsed by the IMF, World Bank and WTO (and in concert with the interests of the rich countries) undermines real development. Chang backs this up by showing that, without fail, all the rich economies used a combination of tariffs, subsidies, state ow
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May 24, 2009
Kim
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Hmmm...thought provoking approach to global economics, but to me, often lacked the level of analysis and focus I felt was required to make the case. Ha-Joon Chang's conclusions are a different perspective over the Western media bias and probably have a lot of merit, but in spite of his examples, the book left me with more questions than answers. For example, his South Korean examples (his native country) seemed to contrived and convenient at times and I felt there was more to the story that in
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Nov 17, 2010
Anandh
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After being brought up on a dose of neo classical Western based textbooks, this book was a breath of fresh air. The author propounds that those who advocate removing of trade barriers(and therefore free trade) are dragging away the same ladder which they themselves used to succeed. Whether it be copyright violation in USA, books piracy in South Korea, IPR theft by Allies post WW-2, all the fortunes have been built on the back of (what is seen today as) sins.
Excellent analogies are used More...
Excellent analogies are used More...
Jan 06, 2012
Grig
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GRRR FREE TRADE I HATE YOUU!!!1122##$#$%%%
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Nov 06, 2011
Tony
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I'm a free market loving MBA. I read this book mostly being curious about what it might say. I must say, it almost turned me into a Keynesian social democrat, but not quite. The author grew up in the South Korean economic miracle and has a lot of very good points as to how the developed countries are keeping the developing countries from developing by pushing the ideas of free trade when in reality they didn't follow free trade when they were in the process of developing. I think I need to fact
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Jan 29, 2009
Neel
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I love this book. I wouldn't say I'm some kind of religious follower of Ha-Joon Chang's of every word in the book, and I even disagree with the author at some points.
But it is undeniable that voices like Chang's are in the ideological wilderness. There are many elements of free-market globalization that are the stuff of myth and empty faith. Chang lays these bare in this book. It's a message you should share with your "pro-business conservative" friends, as many of Chang' More...
But it is undeniable that voices like Chang's are in the ideological wilderness. There are many elements of free-market globalization that are the stuff of myth and empty faith. Chang lays these bare in this book. It's a message you should share with your "pro-business conservative" friends, as many of Chang' More...
Jan 07, 2011
Kurt
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Of the 5 books on economics I read since the crash, this one was by far the one that most challenged what I believed. This was probably because I try to base my life on evidence and not ideologies I've grown to accept without much thought on my part. Of the five books, his was supported with the most evidence. It challenged my notion that free market is always the best; And made me reevaluate when government spending is bad, when it is OK, and when it is best. It also makes me question my suppor
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Jan 22, 2009
Maureen
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Well written, thoughtful critique of neo-lib economic assumptions. Wish he had addressed the 3rd world collapse in 70s in context of the pre-neo lib framework that he admits was operable then. Still he makes good case for judicious, repeat judicious, recourse to protectionism by the have-nots struggling for a piece of the Have... ditto re the need for some flexibility re industrial sabotage by the marginalized . . it put me in mind of America's keen talent at filching European technologies.
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Nov 11, 2008
Nathan
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I echo Mat's comments about needing more "facts." It didn't seem like there was enough meat to pass the truthiness test. Also, I take issue with the statistics used to back up some of his arguments. He argued vehemently against globalization on the basis that the per-capita GDP decreased with expanded trade. While I can't argue with that stat, the fact remains that the countries themselves experienced significant GDP growth, and certain classes of workers have made big gains in rel
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Oct 08, 2008
Barry
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Easy to read and entertaining demolition of free-trade and economic development myths.
Chang demonstrates that rich nations got rich precisely by using the techniques and policies they try to prevent poor nations from using now, such as protection of infant industries, controlling foreign trade, regulating foreign investment, setting up public enterprises, 'borrowing' ideas & technology, and not being too fiscally prudent.
My only criticism is that Chang does not sufficien More...
Chang demonstrates that rich nations got rich precisely by using the techniques and policies they try to prevent poor nations from using now, such as protection of infant industries, controlling foreign trade, regulating foreign investment, setting up public enterprises, 'borrowing' ideas & technology, and not being too fiscally prudent.
My only criticism is that Chang does not sufficien More...
Jul 12, 2008
Marne
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Everything that the developing world has known but were afraid to say or could not articulate, or were helpless against under trading or financing terms imposed by the developed world, is what Bad Samaritans is all about. Contrary to Friedman and others, the world is not flat and the developing world is always at the brunt of "free trade." The wealthy nations imposing "free trade" on the poorer nations did not become wealthy because they practiced free trade. Their own histor
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Jul 12, 2008
Terence
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Despite an annoying writing style and some egregious typos ("the these," "casualty" for "causality" and "samller" for "smaller," among others), the substance of this book is a cogent dissection of the neo-liberal religion and the obsession with "globalization" that has brought even the giants of the developed world to the brink of economic implosion in just 30 years.
The gist of Chang's argument is that, after 150 years of av More...
The gist of Chang's argument is that, after 150 years of av More...
Feb 07, 2008
Paige
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I found this book at the new release section in the library. The title looked a little melodramatic to me, but I read the praise for it, and it came from all sorts of people--a Nobel laureate in economics, Noam Chomsky, a Financial Times editor & pro-globalization guy. So I decided to read it, and I'm glad I did.
I did pretty well in econ during school, but it wasn't really my strong suit. I was apprehensive that this book would be over my head. It is in fact very easy to understa More...
I did pretty well in econ during school, but it wasn't really my strong suit. I was apprehensive that this book would be over my head. It is in fact very easy to understa More...
Jan 04, 2011
Antonia
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Fantastic and highly readable critique of the current "free market" capitalist orthodoxy promulgated by many influential economists and used to justify US/EU/Japanese policies toward developing countries. Chang, a native South Korean, reveals how most of today's economic powers from the U.S. to China used protectionism and government intervention - not free-market trade - to develop their economies and attain wealth.
