: Rich countries used tariffs and subsidies to build their industries, then promoted free trade once they were dominant. Increasing vs. Diminishing Returns :
Research from the St. Louis Fed and DIIS identifies several structural barriers: How Rich Countries Got Rich and Why Poor Countr...
The primary takeaway from Erik Reinert’s influential book How Rich Countries Got Rich and Why Poor Countries Stay Poor is that wealthy nations achieved their status through , rather than the free-trade policies they often advocate for developing nations today . 🏗️ Key Arguments for Development : Rich countries used tariffs and subsidies to