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> Of all the third-world countries that have developed, they have almost uniformly made heavy use of protectionism, foreign-ownership limitations, etc. Do you
by michaelkeenan 13y ago
> Of all the third-world countries that have developed, they have almost uniformly made heavy use of protectionism, foreign-ownership limitations, etc.
Do you have a citation for that? I suspect it might just be trivially true because all countries, especially developing countries, make heavy use of protectionism for some definitions of "heavy". It would be useful to show a relationship between level of protectionism and economic growth. My impression is that most economists think that protectionism harms economic growth.
I pre-commit to changing my mind if there's a correlation between greater protectionism and greater economic growth.
As mentioned in the latest Gates letter, huge progress has been made on reducing global poverty recently, and it continues to be made. He says it's likely that there will be almost no poor countries by 2035.
- cma 13y ago"Bad Samaratins" has lots of citations, but just look at our exports: One of America's biggest exports is civilian aircraft. I think for a while it was the US's #1 export in terms of profit. It was also one of the most state-subsidized industries. Giant aircraft presses can run into the "natural monopoly" problem, there are defense concerns with having military production happen in America, etc., so there are lots of justifications we can make for it. But a subsidy is functionally a tariff. http://en.wikipedia.org/wiki/Heavy_Press_Program http://en.wikipedia.org/wiki/Heavy_Press_Program http://en.wikipedia.org/wiki/Natural_monopoly http://en.wikipedia.org/wiki/Natural_monopoly
- dredmorbius 13y agoHa-Joon Chang is a leading economist critical of much of the orthodoxy. Korean born, currently at University of Cambridge in London. He's studied under a prominent Marxist scholar though I'm not sure he's classified as same himself. https://en.wikipedia.org/wiki/Ha-Joon_Chang https://en.wikipedia.org/wiki/Ha-Joon_Chang His books include Bad Samatarians (which cma mentioned) and 23 Things They Don't Tell You About Capitalism. He has a few online articles and videos on YouTube.