Chang Ha-Joon - Reclaiming Development

TITLES IN THE CRITIQUE INFLUENCE CHANGE SERIES

Reclaiming Development

An Alternative Policy Manual

by Ha-Joon Chang and Ilene Grabel

Realizing Hope

Life Beyond Capitalism

by Michael Albert

Global Governance and the New Wars

The Merging of Development and Security

by Mark Duffield

Capitalism in the Age of Globalization

The Management of Contemporary Society

by Samir Amin

Ecofeminism

by Maria Mies and Vandana Shiva

Debating Cultural Hybridity

Multicultural Identities and the Politics of Anti-Racism

edited by Pnina Werbner and Tariq Modood

Deglobalization

Ideas for a New World Economy

by Walden Bello

A Fundamental Fear

Eurocentrism and the Emergence of Islamism

by Bobby S. Sayyid

Patriarchy and Accumulation on a World Scale

Women in the International Division of Labour

by Maria Mies

CRITICAL PRAISE FOR RECLAIMING DEVELOPMENT

In a world wracked by crises, compromised institutions and bourgeoning inequalities, Chang and Grabel provide a real, workable roadmap to a post-neoliberal future. Look no further there are alternatives, and Reclaiming Development points the way.

James Heintz, University of Massachusetts Amherst

Reclaiming Development remains a key manual for those looking for a more balanced future. It also serves as an important source for arguments that can debunk reactionary efforts to use the crisis as a means to push an agenda of deregulation.

Kevin Gallagher, co-director, Global Economic Governance Initiative, Boston University

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

Thandika Mkandawire, London School of Economics and Political Science

This unusually well-written, direct and succinct book 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, University of Melbourne

Chang and Grabel demolish the myths (or fabrications) underlying neoliberal views about economic development and provide succinct, constructive suggestions for policies Reclaiming Development is a manifesto that should be on the shelves of policymakers, academics and students worldwide.

Lance Taylor, New School University

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

Martin Khor, executive director, The South Centre

The dominant neoliberal economic doctrine asserts that there is no alternative to its policy prescriptions This book refutes the belief system implicit in the assertion in a manner that is highly iconoclastic. Yet, it is solidly grounded in economic theory and empirical evidence, both historical and contemporary.

Deepak Nayyar, Jawaharlal Nehru University

ABOUT THE AUTHORS

Ha-Joon Chang teaches economics at Cambridge University. He is the author of 23 Things They Dont Tell You about Capitalism.

Ilene Grabel is an economist and professor at the Josef Korbel School of International Studies at the University of Denver.

RECLAIMING
DEVELOPMENT

AN ALTERNATIVE
ECONOMIC POLICY
MANUAL

HA-JOON CHANG
AND ILENE
GRABEL

WITH A FOREWORD BY

ROBERT H. WADE

Zed Books
London & New York

For Hee-Jeong and George

Reclaiming Development: An Alternative Economic Policy Manual was first published in 2004 by Zed Books Ltd, 7 Cynthia Street, London N1 9JF, UK and Room 400, 175 Fifth Avenue, New York, NY 10010, USA

This ebook edition was first published in 2014

www.zedbooks.co.uk

Copyright Ha-Joon Chang and Ilene Grabel 2004, 2014
Foreword Robert Wade 2014

The rights of Ha-Joon Chang and Ilene Grabel to be identified as the authors of this work has been asserted by them in accordance with the Copyright, Designs and Patents Act, 1988

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of Zed Books Ltd.

A catalogue record for this book is available from the British Library
Library of Congress Cataloging in Publication Data available

ISBN 978 1 78032 973 4

Contents

Acknowledgements

This book would not have been written without the encouragement and advice of Robert Molteno, our wonderful editor at Zed. We thank Ken Barlow, our new editor at Zed, for the enthusiasm and professionalism with which he pursued the reissue of Reclaiming Development.

Duncan Green read the first draft of all the main chapters and provided many useful comments on them. George DeMartino reviewed several drafts of the manuscript, and his comments improved each version immeasurably.

Ha-Joon Chang wishes to thank the Korea Research Foundation, which through its BK21 programme supported his visit to the Department of Economics of Korea University, where he was a visiting research professor when the manuscript was finalized.

Ilene Grabel thanks the Faculty Research Fund of the University of Denver for the financial support that aided her work on this book, and Peter Zawadzki for his superb research assistance. She also thanks her wonderful students at the Graduate School of International Studies at the University of Denver and her friends in nongovernmental organizations for their insistence that she think about concrete policy alternatives to neoliberalism.

List of Abbreviations