Interest Quotes by Ha-Joon Chang

2 Interest quotes by Ha-Joon Chang

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Markets are, in the end, man-made devices for utilitarian purposes, not a force of nature that we should not try to resist. If they end up serving the interests of only a tiny minority, as is increasingly the case, we…

Ha-Joon Chang

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Self-interest, to be sure, is one of the most important, but we have many other motives - honesty, self-respect, altruism, love, sympathy, faith, sense of duty, solidarity, loyalty, public-spiritedness, patriotism, and so on - that are sometimes even more important…

Ha-Joon Chang

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“In no country does the average income give the right picture of how people live but in a country with higher inequality it is…

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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

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Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying…

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Indeed, willingness to challenge professional economists and other experts is a foundation stone of democracy. If all we have to do is to listen…

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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

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“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

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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

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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

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Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.

Ha-Joon Chang

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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

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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

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“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

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