Contrarian economist Chang blasts holes in the "World Is Flat" theories of Thomas Friedman and other neo-liberal economists who argue that only unfettered capitalism and wide-open international trade can lift struggling nations out of poverty. On the contrary, Chang shows, today's economic superpowers--from the United States to Britain to his native South Korea--all attained prosperity by protectionism and government intervention in industry. We in...

Challenges popular misconceptions while making startling revelations about free-market practices, explaining the author's views on global capitalism dynamics while making recommendations for reshaping capitalism to humane ends.