Why Globalization Works Quotes

“A country with secure property rights, scientific inquiry and technological innovation will become richer. But, since division of labour is limited by the size of the market, it will also benefit from trade, not just in goods and services, but in ideas, capital and people. The smaller a country is, the greater the benefits. Trade is far cheaper than empire, just as internal development is a less costly route to prosperity than plunder. This was the heart of Angell's argument.”
― Martin Wolf, Why Globalization Works

“The lowest among the advanced liberal democracies were France (6.7), Belgium (6.6) and Italy (5.5). At or below two were Bangladesh (0.4), Nigeria (1.0), Uganda (1.9), Indonesia (1.9), Bolivia (2.0), Kenya (2.0) and Cameroon (2.0). Meanwhile, Russia and Pakistan were on 2.3, India on 2.7, China on 3.5, Brazil on 4.0.25 There is, as one might expect, strong evidence that corruption impairs economic growth. Nobody wants to invest or do the other growth-promoting things discussed in Chapters 2 and 3 in a highly corrupt country.26 Yet all corruption is not equal in its effects. Analysts distinguish centralized from decentralized corruption. Under centralized corruption, one person determines the size of the take. Call this Suharto’s Indonesia. Under decentralized corruption, officials and politicians compete for the take. Call this India.”
― Martin Wolf, Why Globalization Works