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We Are Not Smart Enough To Leave Things To The Market.
-Ha-Joon Chang
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We Are Not Smart Enough To Leave
Ha-Joon Chang
We Are Not Smart Enough To Leave Things To The Market.
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Smart
Enough
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[good Managers] Know That People Have 'good' Sides And 'bad' Sides And That The Secret Of Good Management Is In Magnifying The Former And Toning Down The Latter.
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Rich Countries Have 'kicked Away The Ladder' By Forcing Free-market, Free-trade Policies On Poor Countries. Already Established Countries Do Not Want More Competitors Emerging Through The Nationalistic Policies They Themselves Successfully Used In The Past.
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As South Korea Shows, Active Participation In International Trade Does Not Require Free Trade. Indeed, Had South Korea Pursued Free Trade And Not Promoted Infant Industries, It Would Not Have Become A Major Trading Nation. It Would Still Be Exporting Raw Materials (e.g., Tungsten Ore, Fish, Seaweed) Or Low-technology, Low-price Products (e.g., Textiles, Garments, Wigs Made With Human Hair) That Used To Be Its Main Export Items In The 1960s.
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Between The Great Depression And The 1970s, Private Business Was Viewed With Suspicion Even In Most Capitalist Economies. Businesses Were, So The Story Goes, Seen As Anti-social Agents Whose Profit-seeking Needed To Be Restrained For Other, Supposedly Loftier, Goals, Such As Justice, Social Harmony, Protection Of The Weak And Even National Glory.
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