Customer Quote by Ha-Joon Chang
“Financial markets need to become less, not more, efficient.”
About This Quote
Financial markets should aim for reduced efficiency to allow for more equitable outcomes, rather than striving for maximal efficiency.
In simple terms: Less efficient markets can promote fairness.
Key Takeaway
Accept some inefficiency for social benefit.
Themes
economics
market design
efficiency
equity
Mood
critical
thought‑provoking
Type
analytical
policy‑oriented
When to use this quote
- regulation
- financial reform
- social welfare programs
- investment strategies
Key Concepts
heterodox economics
institutional theory
public policy
Questions to Reflect On
- What inefficiencies can improve fairness?
- How to balance efficiency with equity?
A Different Perspective
Too much inefficiency can hinder growth.
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