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Ha-Joon Chang - Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Level: beginner
Ha Joon-Chang | New America Foundation, 2008
Perspective: Institutionalist Economics
Topic: trade
Format: Lecture
Duration: 01:05:00
Link: https://www.youtube.com/watch?v=WU9DgfOMpmo

Summary

Ha Joon Chang exposes the main ideas of his book Bad Samaritans, namely that historically states have developed and industrialized by making policy interventions related to industry protection, tariffs and subsidies and not by opening their markets to free trade. Chang elaborates on the examples of Japan, the US, Singapore and Germany amongst others to show that an interventionist path to development has been the regularity and not an anomaly. In the end of the lecture, he argues that they idea of a level playing field should be replaced by a trade order that accounts for differences in power and economic capacities of different countries. The last 20 minutes are questions and answers.


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