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Economics: The User's Guide

Book by Ha-Joon Chang · 1 quotes · Economics, Adam Smith, Advertising

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Economics: The User's Guide Quotes

“The focus on the market has made most economists neglect vast areas of our economic life, with significant negative consequences for our well-being. The neglect of production at the expense of exchange has made policy-makers in some countries overly complacent about the decline of their manufacturing industries. The view of individuals as consumers, rather than producers, has led to the neglect of issues such as the quality of work (e.g., how interesting it is, how safe it is, how stressful it is and even how oppressive it is) and work-life balance. The disregard of these aspects of economic life partly explains why most people in the rich countries don’t feel more fulfilled despite consuming the greatest ever quantities of material goods and services. The economy is much bigger than the market. We will not be able to build a good economy — or a good society — unless we look at the vast expanse beyond the market.”

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