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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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Ha-Joon Chang
Age: 60
Born: 1963
Born: October 7
Economist
Seoul Teukbyeolsi
Wells
Changes
Well
Open
Take
State
People
Chance
Actually
Chances
Less
Encourage
Jobs
Designed
States
Welfare

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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.
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The foundation of economic development is the acquisition of more productive knowledge.
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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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Making rich people richer doesn't make the rest of us richer.
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History is on the side of the regulators.
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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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95% of Economics is common sense deliberately made complicated.
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Democracy is acceptable to neo-liberals only in so far as it does not contradict the free market.
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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.
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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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People who live in poor countries have to be entrepreneurial even just to survive.
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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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The invention of the printing press was one of the most important events in human history.
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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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Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.
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