• Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.

    Ha-Joon Chang (2007). “Bad Samaritans: rich nations, poor policies, and the threat to the developing world”, Century