A maverick economist explains how protectionism makes nations rich, free trade keeps them poor---and how rich countries make sure to keep it that way.
Throughout history, some combination of government intervention, protectionism, and strategic investment has driven successful development everywhere from Renaissance Italy to the modern Far East. Yet despite the demonstrable success of this approach, development economists largely ignore it and insist instead on the importance of free trade. Somehow, the thing that made rich nations rich supposedly won't work on poor countries anymore.
Leading heterodox economist Erik Reinert's invigorating history of economic development shows how Western economies were founded on protectionism and state activism and only later promoted free trade, when it worked to their advantage. In the tug-of-war between the gospel of government intervention and free-market purists, the issue is not that one is more correct, but that the winning nation tends to favor whatever benefits them most.
As Western countries begin to sense that the rules of the game they set were rigged, Reinert's classic book gains new urgency. His unique and edifying approach to the history of economic development is critical reading for anyone who wants to understand how we got here and what to do next, especially now that we aren't so sure we'll be the winners anymore.
A major bestseller, this influential and wide-ranging book has been praised by BusinessWeek as Krugman's "most provocative and compelling effort yet," the New York Review of Books as "refreshing," and Library Journal as "thought-provoking...even funny." The American Prospect put it in vivid terms: "In a time when too few tell it like it is... Krugman] has taken on the battle of our time."
Built from Paul Krugman's influential Op-Ed columns for the New York Times, this book galvanized the reading public. With wit, passion, and a unique ability to explain complex issues in plain English, Krugman describes how the nation has been misled by a dishonest administration.
In this long-awaited work containing Krugman's most influential columns along with new commentary, he chronicles how the boom economy unraveled: how exuberance gave way to pessimism, how the age of corporate heroes gave way to corporate scandals, how fiscal responsibility collapsed. From his account of the secret history of the California energy crisis to his devastating dissections of dishonesty in the Bush administration, from the war in Iraq to the looting of California to the false pretenses used to sell an economic policy that benefits only a small elite, Krugman tells the uncomfortable truth like no one else. And he gives us the road map we will need to follow if we are to get the country back on track.
The paperback edition features a new introduction as well as new writings.
Muhammad Yunus was a professor of economics in Bangladesh, who realized that the most impoverished members of his community were systematically neglected by the banking system -- no one would loan them any money. Yunus conceived of a new form of banking -- microcredit -- that would offer very small loans to the poorest people without collateral, and teach them how to manage and use their loans to create successful small businesses. He founded Grameen Bank based on the belief that credit is a basic human right, not the privilege of a fortunate few, and it now provides $24 billion of micro-loans to more than nine million families. Ninety-seven percent of its clients are women, and repayment rates are over 90 percent. Outside of Bangladesh, micro-lending programs inspired by Grameen have blossomed, and serve hundreds of millions of people around the world.
The definitive history of micro-credit direct from the man that conceived of it, Banker to the Poor is the moving story of someone who dreamed of changing the world -- and did.
Globalization has shrunk the world in the name of free trade and broken down many of the boundaries between peoples. But it has also been a powerful driver of inequality, over-consumption and corporate control. This fully updated edition unpacks the complexities of globalization, examines the forces in whose interests it works, and provides the critical analysis for re-appraising the system.
Wayne Ellwood is former co-editor of New Internationalist magazine. He worked as an associate producer with the BBC television series, Global Report, and edited the reference book, The A to Z of World Development. He is author of the No-Nonsense Guide to Degrowth and Sustainability.
From one of the worlds greatest economic minds and author of the New York Times bestseller The End of Poverty comes this clear map of the road to sustainable and equitable global prosperity, and a warning of the economic collapse that lies ahead if policies arent changed.
A combination of economic knowledge and accounting expertise provides a better understanding of problems of change within certain Pacific Basin nations. The role of accounting services firms in producing international linkage needed as a foundation for economic growth is described. An understanding of the impact of these firms on business operations among the nations of the Pacific Basin is provided. The focus is on the growth prospects for the accounting services firms in various area nations.
Patnaik's starting point is the fundamental question of how we can explain the resilience and durability of capitalist economies-. He argues that the existence of a periphery of less developed countries provides a buffer that allows (relatively) crisis-free and non-inflationary growth in the capitalist core. His analysis unifies two fields that are normally separate: models of growth and stabilization policy in advanced economies and the economics of open, developing economies.
This book provides analytical insights into if and how the targets adopted by the international community are likely to be achieved. A key feature of the analysis is the recognition that most of the MDG targets are endogenously related. These inter-dependencies are crucial not only in analysing the MDGs but also devising strategies.