Prologue, p. 16
Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008)
Ha-Joon Chang: Market
Ha-Joon Chang is Economist. Explore interesting quotes on market.
Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 2, Learning the right lessons from history, p. 61
Context: Rich countries have 'kicked away the ladder' by forcing free-market, free-trade policies on poor countries. Already established countries do not want more competitors emerging through the nationalistic policies they themselves successfully used in the past.
“If they want to leave poverty behind, they have to defy the market”
Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 9, Defying the market, p. 210
Context: Markets have a strong tendency to reinforce the status quo. The free market dictates that countries stick to what they are already good at. Stated bluntly, this means that poor countries are supposed to continue with their current engagement in low-productivity activities. But their engagement in those activities is exactly what makes them poor. If they want to leave poverty behind, they have to defy the market and do the more difficult things that bring them higher incomes—there are no two ways about it.
Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 8, Democracy and the free market, p. 172
Context: Unlike what neo-liberals say, market and democracy clash at a fundamental level. Democracy runs on the principle of 'one man (one person), one vote'. The market runs on the principle of 'one dollar, one vote'. Naturally, the former gives equal weight to each person, regardless of the money she/he has. The latter give greater weight to richer people. Therefore, democratic decisions usually subvert the logic of market.
“We are not smart enough to leave things to the market.”
Thing 16
23 Things They Don't Tell You About Capitalism (2010)
“Corruption exists because there is too much, not too little, market.”
Prologue, p. 18
Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008)
Variant: Corruption often exists because there are too many market forces, not too few.
"Kicking Away the Ladder" http://www.paecon.net/PAEReview/issue15/Chang15.htm, post-autistic economics review, issue no. 15, 1 September 2002, article 3
Prologue, p. 15
Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008)
“Democracy is acceptable to neo-liberals only in so far as it does not contradict the free market.”
Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 8, Democracy and the free market, p. 176
“Financial markets need to become less, not more, efficient.”
Thing 22
23 Things They Don't Tell You About Capitalism (2010)
Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 8, Democracy and the free market, p. 174