Includes bibliographical references and index

Contrarian economist Chang blasts holes in the "World Is Flat" theories of Thomas Friedman and other neo-liberal economists who argue that only unfettered capitalism and wide-open international trade can lift struggling nations out of poverty. On the contrary, Chang shows, today's economic superpowers--from the United States to Britain to his native South Korea--all attained prosperity by protectionism and government intervention in industry. We in the wealthy nations have conveniently forgotten this fact, telling ourselves a fairy tale about the magic of free trade and forcing policies that suit ourselves on the developing world. Unlike typical economists who construct models of how economies are supposed to behave, Chang examines the past: what has actually happened. He calls on America to return to its abandoned role, embodied in programs like the Marshall Plan, to offer a helping hand, instead of a closed fist, to countries struggling to follow in our footsteps.--From publisher description

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