Ha-Joon Chang debunks the neoliberal myth of free trade spread by Milton Friedman and Friedrich von Hayek. It turns out to be neo-colonialism and neo-imperialism. Alexander Hamilton was wise enough to adopt protectionism for US infant industries to counter the rich and powerful countries of Europe and grow the US economy. In the present case, so-called free trade helps US multinational firms but hemorrhages jobs, further undercutting labor bargaining power and pruning the middle class.
Ha-Joon Chang's 'Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism'
Reviewed by Thom Hartmann