I’m very much a free market capitalist, actually. I don’t agree with a kind of totalitarian, one government or sort of universal law. I think what will happen and what is happening now is, in the same way as… In the way that countries make themselves attractive to investors through different pieces of legislation they offer, whether it’s secrecy in the case of the Cayman Islands or Switzerland, I think the fact that some countries now are offering very robust publishing laws, it will be that as information is global, what you might see is that these big internet companies like Google or Facebook, that have their servers, will start to relocate those servers to countries where they have less interference. In a way, you’re creating a kind of free market of freedom of information law.
Heather Brooke
» Heather Brooke - all quotes »
Rich countries have ‘kicked away the ladder’ by forcing free-market, free-trade policies on poor countries. Already established countries do not want more competitors emerging through the nationalistic policies they themselves successfully used in the past.
Ha-Joon Chang
Britain and the US are not the homes of free trade; in fact, for a long time they were the most protectionist countries in the world. Not all countries have succeeded through protection and subsidies, but few have done so without them. For developing countries, free trade has a rarely been a matter of choice; it was often an imposition from outside, sometimes even through military power. Most of them did very poorly under free trade; they did much better when they used protection and subsidies. The best-performing economies have been those that opened up their economies selectively and gradually. Neo-liberal free-trade free-market policy claims to sacrifice equity for growth, but in fact it achieves neither; growth has slowed down in the past two and a half decades when markets were freed and borders opened.
Ha-Joon Chang
...we need to recognise that the entire information sector—from music to newspapers to telecoms to internet to semiconductors and anything in-between—has become subject to a gigantic market failure in slow motion. A market failure exists when market prices cannot reach a self-sustaining equilibrium. The market failure of the entire information sector is one of the fundamental trends of our time, with far-reaching long-term effects, and it is happening right in front of our eyes.
Eli Noam
Markets have a strong tendency to reinforce the status quo. The free market dictates that countries stick to what they are already good at. Stated bluntly, this means that poor countries are supposed to continue with their current engagement in low-productivity activities. But their engagement in those activities is exactly what makes them poor. If they want to leave poverty behind, they have to defy the market and do the more difficult things that bring them higher incomes—there are no two ways about it.
Ha-Joon Chang
Whatever market for manufactured goods emerged in colonial and dependent countries did not become the "eternal market" of these countries. Thrown wide open by colonization and by unequal treaties, it became an appendage of the "internal market" of Western capitalism.
Paul A. Baran
Brooke, Heather
Brooke, Rupert
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