“There is no alternative to neo-liberal economics, Americanization and globalization” remains the driving assumption within the international development policy establishment. Ha-Joon Chang and Ilene Grabel question the validity of this assertion by combining data, a devastating economic logic and an analysis of the historical experiences of leading Western and East Asian economies. They also include practical alternatives in key areas: trade and industrial policy; privatization; intellectual property rights; external borrowing; investment; financial regulation; exchange rates, monetary policy, government revenue and expenditure.
“This book is not only a superb antidote to the numbing myths of neo-liberalism but also a stimulating presentation of the many possibilities for alternatives to neo-liberal economic policy”
— Trandika Mkandawire, Director, United Nations Research Institute for Social Research (UNRISD)