The truth is that the free movement of goods, people, and money that developed under British hegemony between 1870 and 1913 – the first episode of globalization – was made possible, in large part, by military might rather than market forces. Ha-Joon Chang Read Quote
The feeling of insecurity is inimical to our sense of wellbeing, as it causes anxiety and stress, which harms our physical and mental health. It is no surprise then that, according to some surveys, workers across the world value job security more highly than wages. Ha-Joon Chang Read Quote
We need to accept that consumption is not the end goal of our life and stop measuring our well-being simply on the basis of earnings. We need to explicitly take the quality of our work-related life into account in judging our well-being. Ha-Joon Chang Read Quote
What free-market economists are not telling us is that the politics they want to get rid of are none other than those of democracy itself. When they say we need to insulate economic policies from politics, they are in effect advocating the castration of democracy. Ha-Joon Chang Read Quote
Patent monopoly creates a lot of problems. It allows the patentee to charge the maximum to consumers. This may not be a problem if the patented product is a luxury item, like parts that go into a smartphone, but can violate basic human rights if it involves things such as life-saving drugs. Ha-Joon Chang Read Quote
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 Read Quote
It is impossible to objectively define how free a market is. This is a political definition. Government is always involved, and those free marketers are as politically motivated as anyone. Ha-Joon Chang Read Quote
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 Read Quote
To put it bluntly, there isn’t one economic theory that can single-handedly explain Singapore’s success; its economy combines extreme features of capitalism and socialism. All theories are partial; reality is complex. Ha-Joon Chang Read Quote
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 Read Quote
