Wie Länder wirklich reich werden! - Ep. 343

Why did some countries become so wealthy? The answer is usually that they not only relied on a free market within their own borders, but also externally. From the 1980s onward, the Washington Consensus economic program promoted structural adjustment programs, low tariffs, and granted considerable power to institutions like the World Bank and the International Monetary Fund in order to establish a global free-market economic order. Interestingly, developing countries have hardly benefited from these measures. But is that really surprising? Hardly: Today's developed countries owe their rise not at all to the free market. This is the central thesis of Ha-Joon Chang's book "Kicking Away the Ladder," which explains that strong government interventions such as protective tariffs, subsidies, targeted industrial policies, and the promotion of domestic companies were crucial. The disregard for copyright also plays a part in this story. Only after these countries had become economically successful and internationally competitive did they begin to promote free trade, deregulation, and privatization as a universally applicable development strategy. In doing so, however, they deprive other nations of the opportunity to experience such progress. More from Ole Nymoen and Wolfgang M. Schmitt in the new episode of "Prosperity for All." Literature: Ha-Joon Chang: Kicking Away the Ladder. Development Strategy in Historical Perspective, Anthem Press. You can listen to our additional content on Apple Podcasts, Steady, and Patreon. Thank you! Apple Podcasts: https://podcasts.apple.com/de/podcast... Patreon:   / oleundwolfgang   Steady: https://steadyhq.com/de/oleundwolfgan... Dates: Wolfgang will be in Idar-Oberstein on March 10th: https://penberlin.de/heimat_rp-mitwir... Wolfgang will be in [location missing] on March 11th. In Duisburg: https://www.duisburger-akzente.de/de/... Ole will be at the Leipzig Book Fair on March 19: https://www.leipziger-buchmesse.de/pc... Ole and Wolfgang will be in Bielefeld on March 24:   / dvq-z4gjf-q   Ole and Wolfgang will be in Hamburg again on April 11 to discuss German pop music and business. Speaker: https://tickets.centralkomitee.de/pro...