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Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Book by Ha-Joon Chang · 11 quotes · Free Trade, Corruption, Democracy

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Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism Quotes

“The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved in recommending free trade and free market to developing countries.”

“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.”