Defining Capitalism

Michael Perelman michael at ecst.csuchico.edu
Wed Jul 4 06:35:35 PDT 2001


On Wed, Jul 04, 2001 at 06:09:11AM -0700, Brad DeLong wrote:

Export led growth and free trade are two different things. Korea had export led growth, but not free trade.

Also, please, why do you keep repeating that I am arguing in favor of shutting out textile products. I never said it, yet you keep repeating that I said it.


>
> Lots of countries developed via export-led growth. The argument that
> developing countries should provide protected domestic markets in
> consumer goods (not capital goods) to infant industries in order to
> jump-start industrialization is a serious one. The argument that a
> developing country should manage its imports in order to make sure
> they are used for expanding production rather than elite consumption
> is a serious one. (But so is the argument that such controls tend to
> lead to large-scale corruption.)
>
> But the argument that the industrial core is doing the periphery a
> favor by shutting out its textile products is not a serious one.
>
>
> Brad DeLong

-- Michael Perelman Economics Department California State University Chico, CA 95929

Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu



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