Abstract
This essay argues that policies of economic liberalization may inhibit growth and development in Third World countries. The idea that government intervention stifles entrepreneurial initiative and leads to misallocation of resources is often inappropriate to the institutional conditions and economic structures of Third World countries. In these countries, the adversarial relationship between private business and government is foreign. Consequently, the impact of interventionist policies — as well as their form — differs from that alleged for the West.
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