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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
Even
People
Entrepreneurial
Survive
Countries
Poor
Live
Country

More quotes by Ha-Joon Chang

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A well-designed welfare state can actually encourage people to take chances with their jobs and be more, not less, open to changes.
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Culture changes with economic development.
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The top 10 per cent of the US population appropriated 91 per cent of income growth between 1989 and 2006, while the top 1 per cent took 59 per cent.
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The Korean economic miracle was the result of a clever and pragmatic mixture of market incentives and state direction.
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Countries are poor not because their people are lazy their people are 'lazy' because they are poor.
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Making rich people richer doesn't make the rest of us richer.
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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.
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Since the 1980s, we have given the rich a bigger slice of our pie in the belief that they would create more wealth, making the pie bigger than otherwise possible in the long run. The rich got the bigger slice of the pie all right, but they have actually reduced the pace at which the pie is growing.
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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.
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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.
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History is on the side of the regulators.
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The invention of the printing press was one of the most important events in human history.
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There is no such thing as a free market.
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We are not smart enough to leave things to the market.
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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.
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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.
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Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.
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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.
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95% of Economics is common sense deliberately made complicated.
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People 'over-produce' pollution because they are not paying for the costs of dealing with it.
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