Dirigisme

I was reading Martin Wolf’s book on globalisation during lunch and found the following paragraph from the preface especially reflective, overlapping with my conviction on what is wrong with much of the Malaysian system.

"Working as an economist (of the World Bank) on east Africa between 1972 and 1974 and then on India between 1974 and 1977, I learned first-hand of the damage done by dirigiste, inward-looking economic policies. This was not only because of the grotesque inefficiency, but also because of the epidemic of corruption they caused. Throughout my ten years at the Bank, I was principally engaged in arguing for greater reliance on the market mechanism and trade."

- Martin Wolf, Why Globalisation Works, Preface, xiii

When will we start to look outward?

Elanor