Ha-Joon Chang

"Almost all of today's rich countries used tariff protection and subsidies to develop their industries. Interestingly, Britain and the USA, the two countries that are supposed to have reached the summi…"

"We are not smart enough to leave things to the market."

"Britain and the US are not the homes of free trade; in fact, for a long time they were the most protectionist countries in the world. Not all countries have succeeded through protection and subsidies,…"

"The importance of international trade for economic development cannot be overemphasized. But free trade is not the best path to economic development. Trade helps economic development only when the cou…"

"Global economic competition is a game of unequal players … Consequently, it is only fair that we 'tilt the playing field' in favour of the weaker countries. In practice, this means allowing them to pr…"

"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 l…"

"It's not just about the current economic environment. History shows that slashing budgets always leads to recession."

"Ricardo's theory is absolutely right—within its narrow confines. His theory correctly says that, accepting their current levels of technology as given, it is better for countries to specialize in thin…"