--- title: "Meaning & Key Takeaway of: The widely accepted assertion that, only…" description: "\"The widely accepted assertion that, only if you let markets be will everyone be paid correctly and thus fairly, according to his worth, is a myth. Only..." image: "https://sms4smile.com/quotes/i/a1f/ha-joon-chang-3497_able_the-widely-accepted-assertion-that-only_1258057.jpg" --- # The widely accepted assertion that, only if you let… ![“The widely accepted assertion that, only if you let markets be will everyone be paid correctly and thus fairly, according to his worth, is a myth. Only when we part with this myth and grasp the political nature of the market and the collective nature of individual productivity will we be able to…” quote by Ha-Joon Chang](https://sms4smile.com/quotes/i/a1f/ha-joon-chang-3497_able_the-widely-accepted-assertion-that-only_1258057.jpg) [Download](https://sms4smile.com/quotes/i/a1f/ha-joon-chang-3497_able_the-widely-accepted-assertion-that-only_1258057.jpg) [Open image](https://sms4smile.com/quotes/i/a1f/ha-joon-chang-3497_able_the-widely-accepted-assertion-that-only_1258057.jpg) > “The widely accepted assertion that, only if you let markets be will everyone be paid correctly and thus fairly, according to his worth, is a myth. Only when we part with this myth and grasp the political nature of the market and the collective nature of individual productivity will we be able to build a more just society in which historical legacies and collective actions, and not just individual talents and efforts, are properly taken into account in deciding how to reward people.” [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Markets are not purely meritocratic; they are shaped by politics and collective history, so rewards must consider broader social factors. **In simple terms:** Markets aren't just about individual merit. Key Takeaway Recognize political and collective influences on rewards. Themes economics justice politics collective responsibility Mood critical analytical Type theoretical policy-oriented When to use this quote - policy design - labor negotiations - social welfare programs - educational funding - corporate governance Key Concepts institutional economics social equity Questions to Reflect On - How can policies reflect collective contributions? - What mechanisms ensure fair reward distribution? A Different Perspective Ignoring structural biases can perpetuate inequality. ★ ★ ★ ★ ★ No ratings yet [Action](https://sms4smile.com/quotes/about/action/) [Effort](https://sms4smile.com/quotes/about/effort/) [Historical](https://sms4smile.com/quotes/about/historical/) [Individual](https://sms4smile.com/quotes/about/individual/) [Investing](https://sms4smile.com/quotes/about/investing/) [Legacy](https://sms4smile.com/quotes/about/legacy/) [Myth](https://sms4smile.com/quotes/about/myth/) [Nature](https://sms4smile.com/quotes/about/nature/) [People](https://sms4smile.com/quotes/about/people/) [Political](https://sms4smile.com/quotes/about/political/) [Productivity](https://sms4smile.com/quotes/about/productivity/) [Rewards](https://sms4smile.com/quotes/about/rewards/) [Talent](https://sms4smile.com/quotes/about/talent/) ## Related quotes > [If you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather…](https://sms4smile.com/quotes/nassim-nicholas-taleb/if-you-let-markets-in-general-my-belief-is-that-if-you-let-markets/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [We try to reward people according to the value they create, value they create in society and for the company.](https://sms4smile.com/quotes/charles-koch/we-try-to-reward-people-according-to-the-value-they-create-value-they/) [Charles Koch](https://sms4smile.com/quotes/author/charles-koch/) > [“Is It possible to live in such a world where everyone does what he pleases? No one is punished by God or man and…](https://sms4smile.com/quotes/mario-puzo/is-it-possible-to-live-in-such-a-world-where-everyone-does-what-he/) [Mario Puzo](https://sms4smile.com/quotes/author/mario-puzo/) > [You can't reward people who don't want to work with more money than they would make while they were working.](https://sms4smile.com/quotes/robin-leach/you-can-t-reward-people-who-don-t-want-to-work-with-more-money-than/) [Robin Leach](https://sms4smile.com/quotes/author/robin-leach/) > [If your incentives are set up wrong - if for some reason you reward people for behavior that's actually bad for your customers or…](https://sms4smile.com/quotes/ramez-naam/if-your-incentives-are-set-up-wrong-if-for-some-reason-you-reward/) [Ramez Naam](https://sms4smile.com/quotes/author/ramez-naam/) > [You have to do more than just talk about work. 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Yet they are not the people who are…](https://sms4smile.com/quotes/arsene-wenger/people-who-work-make-the-world-live-better-and-to-reward-these-people/) [Arsene Wenger](https://sms4smile.com/quotes/author/arsene-wenger/) > [“Don’t expect a reward for what you do, from people, rather what matters is how you walk and are valued by God”](https://sms4smile.com/quotes/sunday-adelaja/don-t-expect-a-reward-for-what-you-do-from-people-rather-what-matters/) [Sunday Adelaja](https://sms4smile.com/quotes/author/sunday-adelaja/) > [I am in favor of an idea that's been around for a number of years, which is to reward people who are willing to…](https://sms4smile.com/quotes/sally-satel/i-am-in-favor-of-an-idea-that-s-been-around-for-a-number-of-years/) [Sally Satel](https://sms4smile.com/quotes/author/sally-satel/) > [The world is not a meritocracy, as much as we may like to pretend that it is. 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