4 ms·
> However, have you ever noticed that no country has ever modernized through free markets, it always required a lot of protectionism. I think attributing this
by dmichulke 9y ago
> However, have you ever noticed that no country has ever modernized through free markets, it always required a lot of protectionism.
I think attributing this to protectionism is not really helpful. There are many protectionist states (or states with a "strong industrial policy") that don't develop at all economically.
The examples of Europe before the early 20th Century and Far Asia in the late 20th century are certainly prominent but what about the other protectionist countries during that time or today?
You can find the "most protectionist" (by some measure) countries here:
http://www.heritage.org/index/explore http://www.heritage.org/index/explore (Click on "Trade Freedom" and then check the top vs bottom of the list)
So we have examples and counter examples, not a strong case in favor of protectionism IMO.
- dis-sys 9y agohe still has a valid point - no country has ever modernized through free markets. he never argued that protectionism is the key to success. in fact, after WWII, not any country modernised itself after becoming a democracy. South Korea was in a military dictatorship, Singapore is run by a single family.