The Myth of Development

This book argues the case against the type of western globalization, or perhaps it should be called capitalization, and dissects the low government and low trade barrier model of economic development espoused by the IMF, the World Bank and the West. Development does not come naturally when the rules favor the industrial economies. The only developing countries that actually developed, such as South Korea and Singapore, did so against the orthdoxy prevailing today. They spent heavily developing their infrastructure and their human capital, their people. The Industrial nations hardly play fair in the world of free trade, What the OECD nations spend on subsidising their farmers, roughly $300 billion annually, is equivalent to sub-Saharan Africa’s total gross domestic product.