Free Market Failure

At Crooked Timber, John Quiggin wonders what went wrong in New Zealand. In the same period that Quiggin discusses, the late 80s to mid 90s, it's worth keeping in mind that the really successful developing economies---the Asian tigers---all thumbed their noses at the pro-IMF, free trade package they were offered. Meanwhile, look where full-throated embrace of same got Argentina. Not, btw, that I think there's any coherent alternative to free trade and globalization, but that we need to study specific instances of its failure.