Edible Economics by Ha-Joon Chang

Author:Ha-Joon Chang [Chang, Ha-Joon]
Language: eng
Format: epub
Publisher: PublicAffairs
Published: 2023-01-17T00:00:00+00:00

The banana is the most productive fruit in the world. But that productivity, used in the wrong way, has led to highly negative outcomes. It was initially used to keep the slaves in the Americas alive at minimal costs to plantation owners. Later, it became the cause of labour exploitation, political corruption and international military invasion in many economies around and in the Caribbean Sea.

MNCs are like that. Like bananas, many of them are highly productive. However, if they are used in the wrong way, the host country will end up as an ‘enclave economy’, if not a ‘banana republic’. Only when there are public policies to ensure maximum transfer of technologies, worker skills and management practices, will host economies truly benefit from the presence of MNCs.

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