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People who live in poor countries have to be entrepreneurial even just to survive.

Ha-Joon Chang

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Ha-Joon Chang
Age: 61
Born: 1963
Born: October 7
Economist
Seoul Teukbyeolsi
Poor
Live
Country
Even
People
Entrepreneurial
Survive
Countries

More quotes by Ha-Joon Chang

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The days are over when technology can be advanced in laboratories by individual scientists alone. Now you need an army of lawyers to negotiate the hazardous terrain of interlocking patents. Unless we find a solution to the problem of interlocking patents, the patent system may actually impede the very innovation it was designed to encourage.
Ha-Joon Chang
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We are not smart enough to leave things to the market.
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The Korean economic miracle was the result of a clever and pragmatic mixture of market incentives and state direction.
Ha-Joon Chang
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The foundation of economic development is the acquisition of more productive knowledge.
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There is no such thing as a free market.
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People 'over-produce' pollution because they are not paying for the costs of dealing with it.
Ha-Joon Chang
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Self-interest, to be sure, is one of the most important, but we have many other motives - honesty, self-respect, altruism, love, sympathy, faith, sense of duty, solidarity, loyalty, public-spiritedness, patriotism, and so on - that are sometimes even more important than self-seeking as the driver of our behaviors.
Ha-Joon Chang
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Low inflation and government prudence may be harmful for economic development.
Ha-Joon Chang
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The free market doesn't exist. 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
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In manufacturing, where mechanization and the use of chemical processes are much easier, it is easier to raise productivity than in services. In contrast, by their very nature, many service activities are inherently impervious to productivity increase without diluting the quality of the product.
Ha-Joon Chang
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95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all the technical details, can be explained in plain terms.
Ha-Joon Chang
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There is a big logical jump between acknowledging the destructive nature of hyperinflation and arguing that the lower the rate of inflation, the better.
Ha-Joon Chang
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Culture changes with economic development.
Ha-Joon Chang
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Democracy and markets are both fundamental building blocks for a decent society. But they clash at a fundamental level. We need to balance them.
Ha-Joon Chang
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Democracy is acceptable to neo-liberals only in so far as it does not contradict the free market.
Ha-Joon Chang
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[Good managers] know that people have 'good' sides and 'bad' sides and that the secret of good management is in magnifying the former and toning down the latter.
Ha-Joon Chang
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95% of Economics is common sense deliberately made complicated.
Ha-Joon Chang
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Making rich people richer doesn't make the rest of us richer.
Ha-Joon Chang
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History is on the side of the regulators.
Ha-Joon Chang
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The higher education system in these countries (US, Korea etc) has become like a theatre in which some people decided to stand to get a better view, promoting the others behind them to stand. Once enough people stand, everyone has to stand, which means no one is getting a better view, while everyone has become more uncomfortable.
Ha-Joon Chang