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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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Ha-Joon Chang
Age: 61
Born: 1963
Born: October 7
Economist
Seoul Teukbyeolsi
Made
Essentials
Remaining
Complicated
Explained
Terms
Technical
Percent
Plain
Term
Reasoning
Common
Economics
Sense
Details
Even
Essential

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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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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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95% of Economics is common sense deliberately made complicated.
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History is on the side of the regulators.
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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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