This chapter explores the concept of liberalization and its effects on China and India. It discusses the different approaches taken by the two countries, challenges in understanding Chinese data, the role of migration in improving living standards, and concerns about top-down control and leadership competence.
Did nations get rich on the backs of other nations? Did the West get rich from imperialism? Noah Smith says no. But why not? If you can steal stuff, isn't that better than having to make it yourself? Listen as Noah Smith and EconTalk's Russ Roberts discuss the impact of imperialism and industrialization on growth and wealth. Smith argues that understanding plunder and where wealth comes from is more than an exercise in economic history--it matters for today's world, too.