It is time that we dispensed with the myth that the market is a force of nature that should not be meddled with. Markets are social creations that can be, and have been, modified for social purposes. Ha-Joon Chang creationdispenseforce Change image and share on social
Imagine if all those kings and dukes hadn't commissioned those crazy cathedrals, paintings and music... we'd still be living in sticks and mud. Because none of those things made any economic sense. Human beings' capacity to 'waste time' is a miracle - but that's exactly what art is for. Ha-Joon Chang artbeingcapacity share on social
Instead of reading a paper, we now read the news online. Instead of buying books at a store, we buy them on-line. What's so revolutionary? The Internet has mainly affected our leisure life. Ha-Joon Chang affectbookbuy Change image and share on social
I think this notion that public enterprises do not work and therefore nationalization will be a disaster, I mean, it's not supported by evidence. Ha-Joon Chang disasterenterpriseevidence Change image and share on social
Without there being some national strategy, it is difficult for educators to know what kinds of engineers or technicians to produce and for potential students to know what professions to study for. Ha-Joon Chang difficulteducatorengineer Change image and share on social
I don't drink at lunchtime because I'm very weak at alcohol like most Asians. Ha-Joon Chang alcoholasiandrink Change image and share on social
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 capitalismdefinefree Change image and share on social
Free market economists frequently see minimum wage legislation as mere political intervention. However, there are decent economic theories which show that, under certain circumstances, minimum wages can be beneficial, as it makes workers more productive. Ha-Joon Chang beneficialcircumstancedecent share on social
Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them. Ha-Joon Chang acceptboundarychoice Change image and share on social
I used to joke that I came to England - not to the U.S. where most Koreans go - because I like Arthur Conan Doyle and Agatha Christie. Ha-Joon Chang agathaarthurchristie Change image and share on social