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The Other Canon in Economic Thought: From Antonio Serra and Friedrich List to Joseph Schumpeter and Ragnar Nurkse
April 1, 2019 @ 5:00 pm - 6:30 pm +04
About the Event:
Economic orthodoxy today prescribes good institutions, low taxes, and openness to foreign investment as the key to successful development. But no country in the world has ever developed on this path — remarkably, not even England or America themselves. During their industrial take-offs, both leading countries relied on high protective tariffs and big governments massively taxing and spending to stimulate the domestic economies. Let’s re-discover the ‘Other Canon’ of economic thought which focuses on fostering the high-return economic activities with higher wages. This thinking had once guided the West in its breakthrough to modernity; later it was adopted by such catching-up states like Japan, Korea, Singapore. Instead of listening to American economists, one should do like the Americans did in their heroic age of industrialization.
About the Speaker:
Language: English
