Unfortunately, a lot of economists wanted to make their subject a science. So the more what you do resembles physics or chemistry, the more credible you become. Ha-Joon Chang Read Quote
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 Read Quote
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 Read Quote
Indeed, willingness to challenge professional economists and other experts is a foundation stone of democracy. If all we have to do is to listen to the experts, what is the point of having democracy? Ha-Joon Chang Read Quote
When we assess the impact of technological changes, we tend to downplay things that happened a while ago. Ha-Joon Chang Read Quote
As a consumer, I don’t create art, but I think whatever the message is, art has to touch you. Ha-Joon Chang Read Quote
A lot of things that we cannot buy and sell in markets used to be totally legal objects of market exchange – human beings when we had slavery, child labour, human organs, and so on. So there is no economic theory that actually says that you shouldn’t have slavery or child labour because all these are political, ethical judgments. Ha-Joon Chang Read Quote
The economy is much bigger than the market. We will not be able to build a good economy – nor a good society – unless we look at the vast expanse beyond the market. Ha-Joon Chang Read Quote
Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it conducts monetary policy. The subject has to be defined in terms of the object of inquiry. Ha-Joon Chang Read Quote
