ABOUT THE BOOK
An illuminating history of economic development in the Modern world
Erik S. Reinert is a key figure in the growing worldwide movement against neo-classical economic theory. He argues that rich countries have developed through a combination of government intervention, protectionism and strategic investment yet, when it comes to today’s poorer nations, the orthodoxy insists on unqualified and absolute standards of free trade.
Reinert’s strongly revisionist history reveals how economic theory has long been torn between the continental Renaissance tradition and the free market ideas of English and later American economics. Our economics were founded on protectionism and state activism and could only later afford the luxury of free trade, so when our leaders come to lecture poor countries on the right road to riches they do so in almost perfect ignorance of the real history of mass affluence. This book mounts a strong challenge and opens up the debate on why free trade is not the best answer for our hopes of worldwide prosperity.
Foreword by Jomo K.S., UN Assistant Secretary-General for Economic Development
List of Figures
1. Discovering Types of Economics Theories
2. The Evolution of the Two Different Approaches
3. Emulation: How Rich Countries Got Rich
4. Globalization: the Argument in Favour are also the Arguments Against
5. Globalization and Primitivization: How Poor Get Even Poorer
6. Explaining Away Failure: Red Herrings at the End of History
7. Palliative Economics: Why the Millennium Goals are a Bad Idea
8. ‘Get the economic activities right’, or, the Lost Art of Creating Middle-Income Countries
I David Ricardo’s Theory of Comparative Advantage in International Trade
III Frank Graham’s Theory of Uneven Development
IV Two Ideal Types of Protectionism Compared
V Philipp von Hörnigk’s Nine Points on How to Emulate the Rich Countries (1684)
VI The Quality Index of Economic Activities
Other countries US$21.00
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