tag:blogger.com,1999:blog-1331441403058020963.post6214681882061006979..comments2024-03-28T06:49:24.930-04:00Comments on International Political Economy at the University of North Carolina: Cake! And Eat it Too!Thomas Oatleyhttp://www.blogger.com/profile/14092437150746625670noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1331441403058020963.post-16399264327453951292011-03-11T18:56:53.455-05:002011-03-11T18:56:53.455-05:00OK, no big issues here. But do read Chang's bo...OK, no big issues here. But do read Chang's book for it's a real compendium of such ideas.<br /><br />Also, Prestowitz <a href="http://ipezone.blogspot.com/2010/11/why-arent-there-famous-chinese-indian.html" rel="nofollow">fails to differentiate</a> between Asian economies in relation to capturing higher value-added activities. Japan and South Korea have managed this feat with world-famous brands and indigenous know-how, but the Chinese have yet to establish a single world-recognized brand.<br /><br />As the marketing guy, I felt obliged to point this out!Emmanuelhttps://www.blogger.com/profile/04615366847433704476noreply@blogger.comtag:blogger.com,1999:blog-1331441403058020963.post-81529237348615026392011-03-11T16:18:14.580-05:002011-03-11T16:18:14.580-05:00It is not that I am unfamiliar with the argument a...It is not that I am unfamiliar with the argument about state-led development, Emmanuel, it is that I think the argument is nonsense. <br /><br />I am not familiar with the Chang argument re balance of payments problems in service oriented economies. This seems to confuse a microeconomic characteristic with a macroeconomic problem. A country does not have external imbalances because of what it produces, but because of how much it spends relative to it is income. I know you know that....Thomas Oatleyhttps://www.blogger.com/profile/14092437150746625670noreply@blogger.comtag:blogger.com,1999:blog-1331441403058020963.post-48131414639630443402011-03-11T15:29:45.831-05:002011-03-11T15:29:45.831-05:00While it is indeed hard to know what Prestowitz is...While it is indeed hard to know what Prestowitz is getting at since he veers off in many directions, some of the ideas he presents appear in Ha-Joon Chang's new book 23 Things They Don't Tell You About Capitalism. He's one of the biggest boosters of state-directed development.<br /><br />Since you aren't that big a reader of left-leaning IPE, one of the favourite points made by Chang and others goes like this: insofar as service-oriented economies are more likely to run external imbalances, they are prone to BOP disruptions. Even in America I'm sure you have those glamourizing industry, right?<br /><br />What's more, Chang claims that, contrary to economist's claims of a "Great Moderation," lower interest rates have in recent decades been accompanied by more BOP crises.Emmanuelhttps://www.blogger.com/profile/04615366847433704476noreply@blogger.com