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Distorting (Economic) History

Distorting (Economic) History

Ratings: (0)|Views: 70|Likes:
Published by Bert M Drona
Any seriously thinking and concerned Filipino will note that the dominant orthodoxy is globalization aka neoliberalism supposedly for us to economically catch-up , to attain economic/material progress --for an underdeveloped country like ours. Any young Filipino who takes a course in political economy/economic development essentially obtains exposure solely in the gospels of Adam Smith and David Ricardo, i.e. the "market system" with its "invisible hand," and "comparative advantage," respectively. They are the gospels of the current economic thinking or orthodoxy that are preached as THE only way to progress for less-developed countries (LDC) or underdeveloped countries like our homeland to escape poverty, to making economic miracles, to better standard of living.

To the knowledgeable Filipino, he knows that our technocrats were early signatories to the secretive agreements/negotiations with the WTO and its trading rules (replacing the GATT)--the organization created in 1995 by the rich countries led by the G7 club and enforced by the IMF and WB combo ostensibly founded to help the poor countries towards development. With the signing, the next 14 years to the present are and in the foreseeable future shall be full of the same punishments: deeper, greater and wider impoverishment to our fellow native Filipinos. All these punishments will be endlessly worsening for the born and unborn generations unless native Filipinos in the homeland become educated, raise their nationalist consciousness, understand and become united to act against our technocrats and rulers with their foreign partners/sponsors ( resident foreigners and transnational corporations (TNCs) who maintain and spread lies and who obviously have much to gain from our dumbing down and resultant massive ignorance and disunity.

Here is an eye-opening article, a recent find including its highly regarded and influential Korean author Ha-Joon Chang, a Professor and Director (specializing in) of Developmental Economics at the University of Cambridge (England). I have just started reading his works and have found his factually-based analytical publications highly recommendable to those who seriously want to learn and understand the truth about economic history in the Western world and the Asian economic miracles of recent decades and compare where our homeland and our people are after religiously following and doing what our Americanized minds dictated.
Any seriously thinking and concerned Filipino will note that the dominant orthodoxy is globalization aka neoliberalism supposedly for us to economically catch-up , to attain economic/material progress --for an underdeveloped country like ours. Any young Filipino who takes a course in political economy/economic development essentially obtains exposure solely in the gospels of Adam Smith and David Ricardo, i.e. the "market system" with its "invisible hand," and "comparative advantage," respectively. They are the gospels of the current economic thinking or orthodoxy that are preached as THE only way to progress for less-developed countries (LDC) or underdeveloped countries like our homeland to escape poverty, to making economic miracles, to better standard of living.

To the knowledgeable Filipino, he knows that our technocrats were early signatories to the secretive agreements/negotiations with the WTO and its trading rules (replacing the GATT)--the organization created in 1995 by the rich countries led by the G7 club and enforced by the IMF and WB combo ostensibly founded to help the poor countries towards development. With the signing, the next 14 years to the present are and in the foreseeable future shall be full of the same punishments: deeper, greater and wider impoverishment to our fellow native Filipinos. All these punishments will be endlessly worsening for the born and unborn generations unless native Filipinos in the homeland become educated, raise their nationalist consciousness, understand and become united to act against our technocrats and rulers with their foreign partners/sponsors ( resident foreigners and transnational corporations (TNCs) who maintain and spread lies and who obviously have much to gain from our dumbing down and resultant massive ignorance and disunity.

Here is an eye-opening article, a recent find including its highly regarded and influential Korean author Ha-Joon Chang, a Professor and Director (specializing in) of Developmental Economics at the University of Cambridge (England). I have just started reading his works and have found his factually-based analytical publications highly recommendable to those who seriously want to learn and understand the truth about economic history in the Western world and the Asian economic miracles of recent decades and compare where our homeland and our people are after religiously following and doing what our Americanized minds dictated.

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Categories:Types, Research, History
Published by: Bert M Drona on Nov 26, 2009
Copyright:Attribution Non-commercial

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07/21/2010

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Note:Underlined words are HTML links. Click on them to see the linked postings/articles.Forwarding the postings to relatives and friends, especially in the homeland, is greatly appreciated.To write or read a comment, please go tohttp://www.thefilipinomind.blogspot.com/ and scroll down to the bottom of the current post (or another post you read and may want torespond) and click on "Comments." 
 
“There is no literate population in the world that is poor; there is no illiterate populationthat is anything but poor.” – John Kenneth Galbraith (1908-2006)“One of the major errors in the whole discussion of economic development has been thetendency to look at the United States or Canada and say that this has worked here, and therefore it must work in the poor countries.” – John Kenneth Galbraith (1908-2006)
Any seriously thinking and concerned Filipino will note that
the dominant orthodoxyis
 
supposedly for us to
, toattain economic/material progress --for an underdeveloped country like ours.Any young Filipino who takes a course in political economy/economic developmentessentially obtains exposure solely in the gospels of 
and
,i.e. the
"market system"
with its
"invisible hand,"
and
"comparativeadvantage,"
respectively. They are the gospels of the current economic thinking or orthodoxy that are
preached as THE only way to progress for less-developedcountries (LDC)
or underdeveloped countries like our homeland to escape poverty, tomaking economic miracles, to better standard of living.To the knowledgeable Filipino, he knows that our 
were early signatories tothe secretive agreements/negotiations with the
WTO
and its trading rules (replacingthe
)--the organization created in 1995 by the rich countries led by the G7 club andenforced by the
combo ostensibly founded to help the poor countriestowards development. With the signing, the next 14 years to the present are and in theforeseeable future shall be full of the same
: deeper, greater and wider impoverishment to our fellow native Filipinos.All these punishments will be endlessly worsening for the born and unborn generationsunless native Filipinos in the homeland become
, raisetheir 
consciousness, understand and become
united to act against
our technocrats and rulers with their foreign partners/sponsors ( resident foreignersand
who maintain and spread lies and whoobviously have much to gain from our 
and resultant massive ignoranceand disunity.
 
Below is an eye-opening article, a recent find including its highly regarded and influentialKorean author 
, a Professor and Director (specializing in)of 
Developmental Economics
at the University of Cambridge (England). I have juststarted reading his works and have found his factually-based analytical publicationshighly recommendable to those who seriously want to learn and understand the truthabout economic history in the Western world and the Asian economic miracles of recentdecades and
compare where our homeland and our people are
 after religiouslyfollowing and doing what our 
minds dictated. - Bert*********************************
Kicking Away The Ladder How the Economic and Intellectual Histories of Capitalism Have Been Re-Writtento Justify Neo-Liberal Capitalism - 
Ha-Joon Chang (Cambridge University, UK)
 There is currently
great pressure on developing countries to adopt a set of “goodpolicies” and “good institutions” – such as liberalisation of trade and investmentand strong patent law – to foster their economic development.
When somedeveloping countries show reluctance in adopting them, the proponents of this recipeoften find it difficult to understand these countries’ stupidity in not accepting such a triedand tested recipe for development. After all, they argue, these are the policies and theinstitutions that the developed countries had used in the past in order to becomerich.
Their belief in their own recommendation is so absolute that in their view ithas to be imposed on the developing countries
through strong bilateral andmultilateral external pressures, even when these countries don’t want them. Naturally, there have been heated debates on whether these recommended policies andinstitutions are appropriate for developing countries. However, curiously, even many of those who are skeptical of the applicability of these policies and institutions to thedeveloping countries take it for granted that these were the policies and the institutionsthat were used by the developed countries when they themselves were developingcountries. Contrary to the conventional wisdom,
the historical fact is that the rich countries didnot develop on the basis of the policies and the institutions that they nowrecommend to, and often force upon, the developing countries.
Unfortunately, thisfact is little known these days because the
“official historians” of capitalism
havebeen very successful in re-writing its history. 
 
Almost all of today’s rich countries used tariff protection and subsidies to developtheir industries.
Interestingly, Britain and the USA, the two countries that are supposedto have reached the summit of the world economy through their free-market, free-tradepolicy, are actually the ones that had most aggressively used protection and subsidies. 
Contrary to the popular myth, Britain had been an aggressive user, and in certainareas a pioneer, of activist policies intended to promote its industries
. Suchpolicies, although limited in scope, date back from the 14
th
century (
Edward III
) and the15
th
century (
Henry VII)
in relation to woolen manufacturing, the leading industry of thetim. England then was an exporter of raw wool to the Low Countries, and Henry VII for eexample tried to change this by taxing raw wool exports and poaching skilled workersfrom the Low Countries. Particularly between the trade policy reform of its first
Prime Minister RobertWalpole
in 1721 and its adoption of free trade around 1860, Britain usedvery
dirigiste
trade and industrial policies, involving measures very similar to whatcountries like Japan and Korea later used in order to develop their industries. During thisperiod, it protected its industries a lot more heavily than did France, thesupposed
dirigiste
counterpoint to its free-trade, free-market system. Given this history,argued
, the leading German economist of the mid-19
th
century,
Britainpreaching free trade to less advanced countries like Germany and the USA waslike someone trying to “kick away the ladder” with which he had climbed to thetop.
 List was not alone in seeing the matter in this light. Many American thinkers shared thisview. Indeed, it was American thinkers like Alexander Hamilton, the first TreasurySecretary of the USA, and the (now-forgotten) economist
Daniel Raymond
,
who firstsystematically developed the "infant industry" argument.
Indeed, List, who iscommonly known as the father of the infant industry argument, in fact started out as afree-trader (he was an ardent supporter of German customs union –
Zollverein
) andlearnt about this argument during his exile in the USA during the 1820s Little known today, the intellectual interaction between the USA and Germany during the19
th
century did not end there. The
German Historical School
 – represented by peoplelike
Wilhelm Roscher, Bruno Hildebrand, Karl Knies, Gustav

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