Ha-Joon Chang on the importance of manufacturing to national prosperity

ha-joon-chang

Cambridge economist Ha-Joon Chang

Here is a link to an article by Cambridge economist Ha-Joon Chang in the Guardian newspaper. Chang, whose ideas I admire and have discussed before on this blog, here, here and here, outlines the continued importance of manufacturing to rich countries in spite of the ‘knowledge economy’, its neglect by successive UK governments over several decades, and how this holds back the economy.

Interestingly, he confirms that in per person terms, and despite government rhetoric, the UK recovery since the 2008 financial crisis has been weak. Much of the vaunted growth has come from a rising working population, rather than productivity and wages.

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One thought on “Ha-Joon Chang on the importance of manufacturing to national prosperity

  1. Writes LK, “Defence of Western prosperity can’t be left to the fairy-tale free markets, but requires strong and nationalist governments in the West that would implement their own type of industrial policy, sensible protectionist measures, and government policies to promote massive reshoring of manufacturing.”

    (Source: http://socialdemocracy21stcentury.blogspot.de/2016/05/free-trade-delusions-versus-real-world.html)

    I venture this hypothesis:

    The left is caught up in a dilemma that seems to make it the collaborator of neo-liberalism: a determined commitment to nationalism is simply not the done thing for the leftist these days; the neoliberal, of course, is happy to see this side of the front collapse.

    This, of course, is part of a far wider range of issues that make the contemporary left a self-destructive force (turning from social democracy to regressive leftism), thereby strengthening its political opponents in many ways.

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