Quote

[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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Ha-Joon Chang
Age: 61
Born: 1963
Born: October 7
Economist
Seoul Teukbyeolsi
People
Magnifying
Managers
Latter
Former
Management
Sides
Secret
Good
Toning

More quotes by Ha-Joon Chang

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We are not smart enough to leave things to the market.
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There is no such thing as a free market.
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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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Making rich people richer doesn't make the rest of us richer.
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The invention of the printing press was one of the most important events in human history.
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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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Culture changes with economic development.
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People who live in poor countries have to be entrepreneurial even just to survive.
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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 Korean economic miracle was the result of a clever and pragmatic mixture of market incentives and state direction.
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Low inflation and government prudence may be harmful for 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 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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95% of Economics is common sense deliberately made complicated.
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The foundation of economic development is the acquisition of more productive knowledge.
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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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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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Between the Great Depression and the 1970s, private business was viewed with suspicion even in most capitalist economies. Businesses were, so the story goes, seen as anti-social agents whose profit-seeking needed to be restrained for other, supposedly loftier, goals, such as justice, social harmony, protection of the weak and even national glory.
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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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Countries are poor not because their people are lazy their people are 'lazy' because they are poor.
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