"Actually, the idea that the state had a vital role to play in economic development and income redistribution has been dominant in most parts of the world for much of the last two centuries. President Franklin Roosevelt’s New Deal even introduced it into the political mainstream of the U.S., where it lingered for decades thereafter."
Pankaj Mishra at The Washington Monthly chides journalists for misunderstanding the history of state capitalism.
Tuesday, July 24, 2012
"A Potent Alternative"
Labels:
China,
economic history,
economics,
FDR,
Japan,
journalism,
nineteenth century,
political history,
twentieth century,
twenty-first century
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