How Rich Countries Got Rich and Why Poor Countries Stay Poor

Topics: Economics, Developed country, Economy Pages: 4 (1374 words) Published: September 16, 2013
Book Review

How Rich Countries Got Rich and

Why Poor Countries Stay Poor

By Erik S. Reinert

The book How Rich Countries Got Rich and Why Poor Countries Stay Poor is written by Erik S. Reinert and it is published in 2007. Reinert is a 62-year-old Norwegian economist who specializes in development economics and economic history (Wikipedia). Reinert attended the University of St. Gallen in Switzerland (where he studied economics), Harvard University for MBA, and Cornell University for Ph.D.(Wikipedia). In addition to How Rich Countries Got Rich and Why Poor Countries Stay Poor, Reinert has written six books which focus around the theory of uneven development and the history of economic thought and policy (Wikipedia). Reinert is not only an eminent scholar in his field, but also a distinguished entrepreneur. In 1972 he founded a small industrial firm that did color sampling to the paint and automotive industries. Later he developed the firm and added production plants in Norway and Finland, and by the time he sold it in 1991, the company had become the largest of its kind in Europe (Wikipedia). Reinert is influenced by Friedrich List and it shows in his piece. Reinert suggests that “globalization would have been a positive-sum game for all countries if the world has taken Friedrich List’s path to economic integration” (Reinert, 161.). Friedrich has developed his own theory about the timing of tariffs and free trade, and the sequence basically goes like this: (1) a period of free trade for all nations (2) a period when small states protect and build their own industries (4) a period when all countries establish their own competitive industrial sectors (Reinert, 161.).After going through all the above steps, it’s time to open for global free trade and globalization will benefit the poor nations as well as the rich ones. Based on Reinert’s education level, the amount of research and publication he has done in the field of uneven development and his...
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