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Quote by Richard Summerbell

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Richard Summerbell
Richard Summerbell

Richard Summerbell, born on June 29, 1956, is a British author known for his works across various literary genres, including novels, poetry, and drama. Summerbell is recognized for his unique narrative style and profound insights into social issues. more

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“The danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European democracies - not just directly by threatening the livelihoods of so many people and pushing the economy into a downward spiral, but also indirectly by undermining the legitimacy of the political system through this backdoor rewriting of the social contract.”

PeoplePoliticalSocialEconomyDemocracyDangerKillingPushingContractsThreateningPolitical SystemsLivelihoodSpiralsLegitimacyRewritingUnderminingAusteritySocial ContractDownward SpiralBackdoor
Author:Ha-Joon Chang
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“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.”

PeopleWorldHas BeensCountryRichWrittenInvolvedStandardsCapitalismTradeHistoricalDevelopingPerceiveFree MarketFree TradeDouble StandardDeveloping Countries
Book:Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
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“It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries.”

IfsWantNeedsGivingCountryChanceTechnologyProductsIndustryPeriodsGiving UpPaidCompetitionInternationalProtectionProducersTake TimeCheaperNew TechnologyImportsIt Takes Time
Book:Bad Samaritans: The Guilty Secrets of Rich Nations and the Threat to Global Prosperity
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