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Indybay Feature

The works of Ha-Joon Chang

by Junaid B. Jahangir
Over the last 20 years, Ha-Joon Chang has weaved a consistent narrative in popular books from Kicking Away the Ladder in 2002 to Edible Economics in 2022. His body of work challenges the narrative in mainstream textbook economics. While his focus is on free trade, foreign direct investment, and neoliberalism, he offers interesting insight on why poor people are poor.
This summary of Ha-Joon Chang's works was published in real-world economics review, issue no. 109
https://www.paecon.net/PAEReview/issue109/Jahangir109.pdf

Advanced countries "kick away the the ladder” to prevent others from catching up with them. This means that countries like Britain and the U.S. industrialized through protectionism but then preached developing countries to practice free trade. Finally, he argues that institutions deemed necessary for economic development were the outcome and not the cause of economic development...

In chapter 1 of Bad Samaritans, he describes the neoliberal approach as based on privatization of SOEs (state-owned enterprises), macroeconomic stability with low inflation and budget balance, trade liberalization, deregulation of capital markets and small government. He critiques neoliberal policies, which have decreased growth and increased inequality and stability. Instead, he explains the economic success of the East Asian economies including Japan, South Korea, Taiwan, Hong Kong, and Singapore through government intervention and protectionism.
by Americansfortaxfairness.org
Trump doesn't have a mandate.
Peter Dreier

CBO: Extending Trump Tax Cuts Will Cost Nearly $5 Trillion
5/8/2024
americansfortaxfairness.org

New estimates from the Congressional Budget Office put a price tag of nearly $5 trillion on extending all the Trump-GOP tax law, mostly scheduled to expire at the end of 2025.
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