!!> Epub ➢ 23 Things They Don't Tell You about Capitalism ➡ Author Ha-Joon Chang – Entrecielos.co

Thing There Is No Such Thing As The Free MarketThing The Washing Machine Has Changed The World Than The InternetThing Assume The Worst About People, And You Get The WorstThing Making Rich People Richer Doesn T Make The Rest Of Us Richer If You Ve Wondered How We Did Not See The Economic Collapse Coming, Ha Joon Chang Knows The Answer We Didn T Ask What They Didn T Tell Us About Capitalism This Is A Lighthearted Book With A Serious Purpose To Question The Assumptions Behind The Dogma And Sheer Hype That The Dominant School Of Neoliberal Economists The Apostles Of The Freemarket Have Spun Since The Age Of Reagan Chang, The Author Of The International Best Seller Bad Samaritans, Is One Of The World S Most Respected Economists, A Voice Of Sanity And Wit In The Tradition Of John Kenneth Galbraith And Joseph Stiglitz Things They Don T Tell You About Capitalism Equips Listeners With An Understanding Of How Global Capitalism Works And Doesn T In His Final Chapter, How To Rebuild The World , Chang Offers A Vision Of How We Can Shape Capitalism To Humane Ends, Instead Of Becoming Slaves Of The Market Ha Joon Chang Teaches In The Faculty Of Economics At The University Of Cambridge His Books Include The Best Selling Bad Samaritans The Myth Of Free Trade And The Secret History Of Capitalism His Kicking Away The Ladder Received The Myrdal Prize, And, In , Chang Was Awarded The Leontief Prize For Advancing The Frontiers Of Economic Thought


6 thoughts on “23 Things They Don't Tell You about Capitalism

  1. Chris H Chris H says:

    This is an interesting and provocative book which questions the received wisdom of the neoliberal free market policies proposed by Friedman and the Chicago School economists of the 1970s and first implemented on a large scale by Regan and Thatcher in other words, it questions the ideas underpinning mainstream economic thinking in the UK and the US governments and their associated economic institutions since the early 1980s As such, it is not seeking to offer an alternative to capitalism as Chang says on the third page of his introduction, the book is not an anti capitalist manifesto Being critical of free market ideology is not the same as being anti capitalist Despite its problems and limitations, I believe that capitalism is still the best economic system that humanity has invented Instead, the book describes the limitations of free market approaches, detailing how such policies largely fail to deliver what their proponents suggest they should and emphasising the continuing importance of government planning and regulation Chang does this in an entertainingly anecdotal fashion in which he takes each of his things , describes how those who believe in free markets think they work, explains how he thinks they work and then uses some carefully chosen examples as a way to illustrate his views.A couple of examples illustrate the tone of his arguments.In Thing Five Assume the worst about people and you get the worst Chang takes on the assumption implicit in Adam Smith s free hand of the market that economic progress is driven exclusively by self interest the very bedrock of free market principles Instead, he suggests, a fair proportion of people s behaviour is almost altruistic most people, for example, work hard even if there is no one to check up on them and most people don t cheat their customers even when they could get away with it Many good economic systems, he suggests, do better by making use of people s disinterested and unrewarded input rather than when they assume that people will always be motivated by self interest alone.In Thing Twelve Governments can pick winners Chang takes on the free market mantra that capitalism works best when people are able to take on enterprises without government interference a belief which is, as Chan demonstrates, at odds with the economic history of every wealthy country Reading this chapter, I couldn t help but think of Canary Wharf the most potent symbol of successful capitalist enterprise in the UK in the last fifty years and reflect that it wouldn t have got off the ground without the UK Government creating the London Docklands Development Corporation, granting the Isle of Dogs Urban Enterprise Zone status and funding infrastructure investment in the DLR and the Jubilee Line.So, overall, then, well worth a read an ideal book, perhaps, for an A Level economics student And, by way of a related postscript, I have a teaching colleague who demonstrates principles of market failure and inequality to his A Level economics students by starting them on a game of Monopoly and then, once the game is underway, he deregulates the game by introducing massive cash hand outs and free houses, hotels and properties to some of the players The results are often hilarious and, typically, lead to civil disobedience, crime and violence as those who lose out protest, steal from the bank and even upset the board The exercise illustrates beautifully how free booting, unregulated capitalism can create rather than solve problems Chang would, I m sure, approve.


  2. markss markss says:

    Excellent.To summarise Ha Joon Chang, exposes the insincerities and double standards of the Washington Concenusus the economic dogma, in which it is asserted that free markets, liberalised trade and deregulation are simpatico with economic development What s often left out of the classical economic philosophy is the evidence to the contrary For example the USA is often held up as a paragon of free market efficiency and growth However it s early economic development see Land Of Promise economic history of the US was founded on three interlocking interventionist policies 1 High tariffs to protect their infant industries until they were efficient and productive enough to compete globally2 Noncompliance with foreign patents enabling their researchers, inventors and manufacturers to develope industries and companies without the additional costs associated with paying patentees for their discoveries.3 Large scale publicly funded infrastructure widening their domestic markets and enabling the development of an interconnected economy.These policies were in turn developed by observing the UKs policy of protecting infant industries with tariffs and only removing them once they were assured of the superiority of their products.Thus by analogy the western developed economies built in no small measure from the dirigiste policies of the past insisting that the less developed world open up to superior products is like a tennis pro insisting on a game with a novice whilst insisting it s fair.Great book, good read and free of irksome, self gratifying economic jargon.


  3. Tim Robinson Tim Robinson says:

    I ve always been a believer in market economics, though I ve mellowed in my beliefs as I ve got a bit older I loved this book it s an easy read, yet it challenges conventional wisdom, suggesting that kinder understanding economic behaviours might not only be kinder, but also smarter if we can get over the short term focus so many of us have been brought up with from an early age.


  4. bart4books bart4books says:

    The I read of this the I think that economics is a belief system rather than a science Chang debunks just about everything to do with how things have been done for the last 25 years or so Makes you slightly miserable reading it, despite there being so much truth in it so I still haven t got to the end of it But well worth reading.


  5. Ian Ingram Ian Ingram says:

    We ve started reading this for our Talk Socialism reading group set up by members of Labour Momentum but open to anyone in York It really is excellent Well argued, accessible and entertaining I can also recommend the audio book.


  6. Jonathan Martin Jonathan Martin says:

    Very interesting book Well written, I like the way it is divided into the 23 chapters and within the chapters into the what they tell you etc sections to keep the message very clear.