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History shows that, at earlier stages of economic development, corruption is difficult to control. The fact that today no country that is very poor i… - Ha-Joon Chang
" "History shows that, at earlier stages of economic development, corruption is difficult to control. The fact that today no country that is very poor is very clean suggests that a country has to rise above absolute poverty before it can significantly reduce in the system. When people are poor, it is easy to buy their dignity—starving people find it difficult not to sell their votes for a bag of flour, while under-paid civil servants will often fail to resist the temptation to take a bribe. But it is not just a matter of personal dignity. There are also more structural causes.
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About Ha-Joon Chang
(Hangul: 장하준; hanja: 張夏准; born 7 October 1963) is a South Korean institutional economist specialising in . Currently a reader in the Political Economy of Development at the University of Cambridge, Chang is the author of several widely discussed policy books, most notably Kicking Away the Ladder: Development Strategy in Historical Perspective (2002). In 2013 Prospect magazine ranked Chang as one of the top 20 World Thinkers.
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The importance of international trade for cannot be overemphasized. But free trade is not the best path to economic development. Trade helps economic development only when the country employs a mixture of protection and open trade, constantly adjusting it according to its changing needs and capabilities. Trade is simply too important for economic development to be left to free trade economists.
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This means that... there is a general fall in demand, so the level of activities in every sector is lower, but this means that in relative terms, sectors that produce multiple goods are likely to expand, partly because it's easier to maintain the level of production in those sectors, but also because when people do not spend money on these face-to-face services, they will spend money on other things... There's already a sign that the demand for goods... is rising, so... there will be a shift from services to manufacturing and agriculture in the coming years.
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