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

Summary

The book «Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism» by Ha-Joon Chang critiques prevalent economic theories that claim free trade and globalization invariably lead to economic growth and prosperity. The author argues that developed countries, which now advocate for free trade, themselves used protectionist measures in the past to safeguard their economies. Chang provides historical examples to demonstrate that successful economies often thrived due to government intervention and the protection of domestic markets. He asserts that developing countries should employ similar strategies to achieve sustainable economic growth, rather than adhering to the free trade doctrines imposed by international organizations and developed nations. The book calls for a reevaluation of economic policies and a more flexible approach to development.