From 18th Century Britain to 20th Century South Korea

Over the last two and half decades, most developing countries have experienced slowing growth, rising inequality and greater economic instability. Ha-Joon Chang attributes these problems to a raft of policies—such as privatization, free trade and strong intellectual property protection—imposed on the developing world in bad faith by developed countries and the international organizations they control.

Chang believes the historical experience of developed countries, and those like South Korea that have gone from developing to developed status in recent decades, reveals the ineffectiveness of these macroeconomic policies. What the world economy really needs, he contends, is a new economic system that prioritizes long-term productivity.

Wednesday, January 30th, 2008

The Secret History of Capitalism

From 18th Century Britain to 20th Century South Korea

with

Ha-Joon Chang
Professor of economics, University of Cambridge
Author, Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism