Does protectionism work?

Yes, says Ha-Joon Chang in this month's Prospect—at least for infant industries in developing countries. Against what he calls the "neoliberal orthodoxy"—privatisation of state assets, limited government, liberalised trade and so on—Chang argues that poor countries should be allowed to make use of protectionist tools like trade tariffs, controls on foreign investment and loose intellectual property regulations—exactly as today's wealthy countries have done throughout history.

Read Chang's essay here, and leave your comments below.