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As water flows from high to low, knowledge has always flowed from where there is more to where there is less. Those countries that are better at abso… - Ha-Joon Chang
" "As water flows from high to low, knowledge has always flowed from where there is more to where there is less. Those countries that are better at absorbing the knowledge inflow have been more successful in catching up with the more economically advanced nations. On the other side of the fence, those advanced nations that are good at controlling the outflow of core technologies have retained their technological leadership for longer. The technological '', between backward countries trying to acquire advanced foreign knowledge and the advanced countries trying to prevent its outflow has always been at the heart of the game of .
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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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Additional quotes by Ha-Joon Chang
Producers in developing countries entering new industries need a period of (partial) insulation from international competition (through protection, subsidies and other measures) before they can build up their capabilities to compete with superior foreign producers. Of course, when the infant producers 'grow up' and are able to compete with the more advanced producers, the insulation should go. But this has to be done gradually. If they are exposed to too much international competition too soon, they are bound to disappear.
[W]hen it comes to basic income, please do not just look at the demand side, but also look at the supply side. ...Whatever amount of income they're going to give you... how are they going to provide those basic ? Some proposals are progressive, but some are not. Some haven't even thought about this. You need to look at both aspects.
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