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Reclaiming Development: An Alternative Economic Policy Manual (Global Issues) Paperback – September 9, 2004


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Product Details

  • Paperback: 246 pages
  • Publisher: Zed Books (September 9, 2004)
  • Language: English
  • ISBN-10: 1842772015
  • ISBN-13: 978-1842772010
  • Product Dimensions: 5 x 1 x 8 inches
  • Shipping Weight: 7.2 ounces
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #1,681,468 in Books (See Top 100 in Books)

Editorial Reviews

Review

'This unusually well-written, direct and succinct book describes neo-liberal positions fairly; offers theoretically rigorous and empirically accurate critiques; and describes feasible, practical alternative policies that take realistic account of political, economic and financial constraints. Discussion of financial, monetary, fiscal, trade and industry policy and intellectual property rights is especially strong and constructive and makes important innovative contributions. It is a fine, carefully analytical achievement which would contribute to hastening both efficient and socially just development wherever the insights are appropriately used.' - John Langmore, Representative of the ILO to the UN 'Chang and Grabel demolish the "myths" (or fabrications) underlying neo-liberal views about economic development and provide succinct, constructive suggestions for policies regarding trade and industry, privatization and intellectual property rights, private capital movements, financial regulation, and macroeconomics. Reclaiming Development is a manifesto that should be on the shelves of policy-makers, academics, and students worldwide.' - Lance Taylor, Arnhold Professor, New School University, and author of Reconstructing Macroeconomics 'A growing number of developing countries are taking back control over economic policy from the IMF and the World Bank. The wide range of policy suggestions contained in this book provides a rich mine of concrete and practicable alternatives from which to choose in taking advantage of whatever room globalization still allows developing countries and reshaping economic policy in their own interests.' - Martin Khor, Director, Third World Network 'This book is not only a superb antidote to the numbing myths of neoliberalism but also a cogent and stimulating presentation of the many possibilities for alternatives to neo-liberal economic policy that both theory and history provide policy-makers and students of development.' - Thandika Mkandawire, Director, United Nations Research Institute for Social Development (UNRISD) 'The dominant neo-liberal economic doctrine asserts that there is no alternative to its policy prescriptions which provide the foundations for success in an age of globalization. This book questions and refutes the belief system implicit in the assertion. It does so in a manner that is highly iconoclastic. Yet, it is solidly grounded in economic theory and empirical evidence, both historical and contemporary' - Deepak Nayyar, Vice Chancellor, University of Delhi

About the Author

Ha-Joon Chang is Assistant Director of Development Studies in the Faculty of Economics and Politics, University of Cambridge. Ilene Grabel is Associate Professor of International Economics at Denver University's Graduate School of International Studies.

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6 of 6 people found the following review helpful By William Podmore on March 2, 2009
Format: Paperback
Ha-Joon Chang, now Reader in the Political Economy of Development at Cambridge University, and Ilene Grabel, of the University of Denver, have produced a brilliant, superbly-organised book. They aim to reclaim development from the neoliberal orthodoxy that has failed developing countries and yet has dominated policy and debate for the last 25 years.

Part 1 considers and rejects six key myths about development. Part 2 provides development policy options that are better than their neoliberal counterparts.

Chapter 1 refutes the myth that developed countries succeeded because they embraced the free market. Post-1945 Japan and France, for example, subordinated their financial sectors to industry's needs and grew far more rapidly than Britain and the USA, which let finance dominate industry.

Chapter 2 refutes the myth that neoliberalism works. In 1960-80, with active, interventionist policies, GDP per head grew by 75% in Latin America and the Caribbean, and by 34% in sub-Saharan Africa. In 1980-2000, under neoliberal policies, it grew by just 7% in the former and fell by 15% in the latter. 1980-2000's best-performing countries were India and China - hardly neoliberal models!

Chapter 3 refutes the myth that neoliberal globalisation is unstoppable. China, India, Sweden, Austria, Netherlands, France and Germany all have very different policies and institutions from Britain and the USA.

Chapter 4 refutes the myth that the USA is the model for all. Despite its 1990s `boom', 10% of US families were poor in 2000, as in 1989. It grew no faster between 1980 and 2000 than between 1960 and 1979.

Chapter 5 refutes the myth that Anglo-American history is the norm. The British and US experiences were abnormal - slavery and empire, for instance.
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Format: Paperback
The author has put out another book demonstrating the uesfulness of an industrial structure policy ,in a number of areas relating to economic development, based on a historical comparison -contrast of the actual policies that lead to successful economic development and substantial improvements in the quality of life and the standard of living in those countries that have incorporated an important role for government spending on necessary and needed public infrastructure.The government has a very important role to play whereever there is market failure,externalities,spillover effects,or the need to provide education and health care.Government provision of needed public goods can't be privatized.Privatization and deregulation, in countries where there are no developed social norms of conduct or functioning institutions except the government, simply leads to a drastic fall in the provision of the good.This has happened all too often in countries in Africa,South America,and Asian that have sought the economic aid, help and direction of the World Bank or the International Monetary Fund.

I would suggest that the author buy a copy of the Wealth of Nations,written by Adam Smith in 1776 and read it carefully.It is obvious that the author is simply ignorant of the fact that Smith's policies would support and buttress many of the arguments put forth by the author.For instance,Smith was a supporter of revenue tariffs,retaliatory tariffs,interest rate control ,credit restriction ,public goods,etc.
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