Sunday, December 12, 2021

Ramesh Chandra On Nicholas Kaldor And Circular Cumulative Causation — V. Ramanan

Kaldor quote. Free trade leads to inequality by favoring endowments, i.e. developed regions over emerging ones.

Although the post doesn't mention it, America took advantage of protectionism under the 19th. c. American System and then switched back to imposition of the British System after becoming dominant in the 20th c.

No comments: