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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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Ha-Joon Chang
Age: 61
Born: 1963
Born: October 7
Economist
Seoul Teukbyeolsi
Paying
Dealing
Cost
Produce
Environment
People
Sustainability
Pollution
Costs

More quotes by Ha-Joon Chang

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Culture changes with economic development.
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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.
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People who live in poor countries have to be entrepreneurial even just to survive.
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Low inflation and government prudence may be harmful for economic development.
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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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Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.
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The invention of the printing press was one of the most important events in human history.
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.
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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.
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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There is no such thing as a free market.
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95% of Economics is common sense deliberately made complicated.
Ha-Joon Chang
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The best way to boost the economy is to redistribute wealth downward, as poorer people tend to spend a higher proportion of their income.
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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A well-designed welfare state can actually encourage people to take chances with their jobs and be more, not less, open to changes.
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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History is on the side of the regulators.
Ha-Joon Chang
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We are not smart enough to leave things to the market.
Ha-Joon Chang