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History is on the side of the regulators.

Ha-Joon Chang

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Ha-Joon Chang
Age: 61
Born: 1963
Born: October 7
Economist
Seoul Teukbyeolsi
Regulators
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Sides
History

More quotes by Ha-Joon Chang

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We are not smart enough to leave things to the market.
Ha-Joon Chang
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Countries are poor not because their people are lazy their people are 'lazy' because they are poor.
Ha-Joon Chang
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The Korean economic miracle was the result of a clever and pragmatic mixture of market incentives and state direction.
Ha-Joon Chang
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Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.
Ha-Joon Chang
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There is no such thing as a free market.
Ha-Joon Chang
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95% of Economics is common sense deliberately made complicated.
Ha-Joon Chang
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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.
Ha-Joon Chang
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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.
Ha-Joon Chang
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Culture changes with economic development.
Ha-Joon Chang
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Low inflation and government prudence may be harmful for economic development.
Ha-Joon Chang
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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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People 'over-produce' pollution because they are not paying for the costs of dealing with it.
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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Making rich people richer doesn't make the rest of us richer.
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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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.
Ha-Joon Chang
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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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The foundation of economic development is the acquisition of more productive knowledge.
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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[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