Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it. — Ha-Joon Chang Copy Share Image
The Korean economic miracle was the result of a clever and pragmatic mixture of market incentives and state direction. — Ha-Joon Chang Copy Share Image
The foundation of economic development is the acquisition of more productive knowledge. — Ha-Joon Chang Copy Share Image
There are different ways to organise capitalism. Free-market capitalism is only one of them-and not a very good one at that. — Ha-Joon Chang Copy Share Image
“95 per cent of economics is common sense – made to look difficult, with the use of jargons and mathematics.” — Ha-Joon Chang Copy Share Image
I'm not an anti-capitalist, or anarchist. I want capitalism to work. — Ha-Joon Chang Copy Share Image
To paraphrase Winston Churchill, capitalism is the worst economic system except for all the other forms. — Ha-Joon Chang Copy Share Image
What free-market economists are not telling us is that the politics they want to get rid of are none other than those… — Ha-Joon Chang Copy Share Image
Overcoming the myth that there is such a thing as an objectively defined 'free market' is the first step towards understanding capitalism. — Ha-Joon Chang Copy Share Image
I am one of the most successful economists, according to what markets tell us, though most of my professional colleagues, who are… — Ha-Joon Chang Copy Share Image
Very often, the judgments by ordinary citizens may be better than those by professional economists, being more rooted in reality and less… — Ha-Joon Chang Copy Share Image
The economy is much bigger than the market. We will not be able to build a good economy - nor a good… — Ha-Joon Chang Copy Share Image
The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double… — Ha-Joon Chang Copy Share Image
People tend to think that numbers are quite objective, but numbers in economics are not like this. Some economists say they're like… — Ha-Joon Chang Copy Share Image
Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'.… — Ha-Joon Chang Copy Share Image
The higher education system in these countries (US, Korea etc) has become like a theatre in which some people decided to stand… — Ha-Joon Chang Copy Share Image
“Economics is a political argument. It is not – and can never be – a science; there are no objective truths in… — Ha-Joon Chang Copy Share Image
In manufacturing, where mechanization and the use of chemical processes are much easier, it is easier to raise productivity than in services.… — Ha-Joon Chang Copy Share Image
Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical… — Ha-Joon Chang Copy Share Image
“Recognizing that the boundaries of the market are ambiguous and cannot be determined in an objective way lets us realize that economics… — Ha-Joon Chang Copy Share Image
Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange… — Ha-Joon Chang Copy Share Image
“So, when free-market economists say that a certain regulation should not be introduced because it would restrict the ‘freedom’ of a certain… — Ha-Joon Chang Copy Share Image
“If the world were full of the self-seeking individuals found in economics textbooks, it would grind to a halt because we would… — Ha-Joon Chang Copy Share Image
“The issue of false consciousness is a genuinely difficult problem that has no definite solution. We should not approve of an unequal… — Ha-Joon Chang Copy Share Image
To put it bluntly, there isn't one economic theory that can single-handedly explain Singapore's success; its economy combines extreme features of capitalism… — Ha-Joon Chang Copy Share Image
Unfortunately, a lot of economists wanted to make their subject a science. So the more what you do resembles physics or chemistry,… — Ha-Joon Chang Copy Share Image
The best way to boost the economy is to redistribute wealth downward, as poorer people tend to spend a higher proportion of… — Ha-Joon Chang Copy Share Image
95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all… — Ha-Joon Chang Copy Share Image
Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rick as what they… — Ha-Joon Chang Copy Share Image
“In no country does the average income give the right picture of how people live but in a country with higher inequality it is… — Ha-Joon Chang Copy Share
Sometimes people with strong ideology, whether left-wing or right-wing, refuse to do something simply because they believe it is wrong, when doing it actually… — Ha-Joon Chang Copy Share
Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying… — Ha-Joon Chang Copy Share
Indeed, willingness to challenge professional economists and other experts is a foundation stone of democracy. If all we have to do is to listen… — Ha-Joon Chang Copy Share
If we are really serious about preventing another crisis like the 2008 meltdown we should simply ban complex financial instruments, unless they can be… — Ha-Joon Chang Copy Share
“Harry S. Truman, in his typical no-nonsense style, once said that ‘An expert is someone who doesn’t want to learn anything new, because then… — Ha-Joon Chang Copy Share
Rational thinking is an important aspect of human nature, but we have imagination, we have ambition, we have irrational fear, we are swayed by… — Ha-Joon Chang Copy Share
The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved… — Ha-Joon Chang Copy Share
Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it. — Ha-Joon Chang Copy Share
The higher education system in these countries (US, Korea etc) has become like a theatre in which some people decided to stand to get… — Ha-Joon Chang Copy Share
What free-market economists are not telling us is that the politics they want to get rid of are none other than those of democracy… — Ha-Joon Chang Copy Share
“Joseph Schumpeter emphasized that all analysis in economics is preceded by a pre-analytical cognitive act, called vision, in which the analyst ‘visualise[s] a distinct… — Ha-Joon Chang Copy Share
“All technical professionals have an incentive to make themselves look more complicated than they are so that they can justify the high fees their… — Ha-Joon Chang Copy Share
“all technical professions have an incentive to make themselves look more complicated than they really are so that they can justify the high fees… — Ha-Joon Chang Copy Share
