Almost all of today's rich countries used tariff protection and subsidies to develop their industries. Interestingly, Britain and the USA, the two countries that are supposed to have reached the summit of the world economy through their free-market, free-trade policy, are actually the ones that had most aggressively used protection and subsidies.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Almost all of today's rich countries used tariff protection and subsidies to develop their industries. Interestingly, Britain and the USA, the two countries that are supposed to have reached the summit of the world economy through their free-market, free-trade policy, are actually the ones that had most aggressively used protection and subsidies." in the context of "Ha-Joon Chang, Kicking Away the Ladder, post-autistic economics review, issue no. 15, 1 September 2002, article 3" to mean that wisdom is timeless.