A Macat Analysis of Kicking Away the Ladder

Ever since the nineteenth century, people have claimed that the prosperity enjoyed by the First World was the result of its devotion to unconstrained economic freedoms. Chang claims that, in fact, First World success was due to exactly the kinds of state intervention that traditional economic thinking consistently opposes today. His detailed analysis of how Britain and the United States came to dominate the emerging global economy highlights their willingness to exploit the apparatus of the state to achieve such results. He also shows how the financial, legal, and institutional bodies claimed as essential to the West's economic muscle were actually the products of its economic dominance.