The book ”Reclaiming Development”, written by Ha-Joon Chang and Ilene Grabel, is a criticism of neoliberal economic policies and practices. The book consists of two parts. In the first chapter called ”Assumptions and Facts about Development"; The opinions put forward by neoliberal economists about development are collected under the titles of assumption and these are first examined and then opinion on the rejection of the assumption is stated. To give an example from this chapter:
Assumption: Today's industrialized countries have grown and prospered thanks to their commitment to free market policies. Unfortunately, many of the competent authorities in developing countries have not learned from this and remain committed to state interventionism. But the laws of economics and history are undeniable; state interventionism is doomed to failure.
Examination of the assumption: Rich countries have grown and developed with free foreign trade and free financial movements.
Denial of the Assumption: The secret of success: Today's industrialized countries have not prospered with free foreign trade and free financial movements.
According to the authors, the countries known as today's developed countries and those that impose neoliberal economic policies on developing countries on the way to development have experienced state interventionism in their economic history. For example, the United States is known as the homeland of the idea of protecting infant industries. In addition, the place of state investments in the defense and pharmaceutical industries is quite large.
According to the authors, well-designed intrusive programs have been implemented in most of the strategies that have resulted in success. Some East Asian countries have caught up with the economic development of the developmental states.
In the second chapter, there are alternative policy options. Foreign trade and industry, privatization and intellectual property rights, international private capital movements, domestic financial supervision, macroeconomic policies, and institutions under the headings of neoliberal economics by offering an alternative to neoliberal economic policies, he strongly criticized the arguments of neoliberal economics. For example, as an alternative to the neoliberal economic policy, which considers the best foreign trade policy as free foreign trade, he argues that certain industries should be protected from the competition created by international trade.
