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Ha-Joon Chang

Ha-Joon Chang Quotes

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“The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved in recommending free trade and free market to developing countries.”

PeopleWorldHas BeensCountryRichWrittenInvolvedStandardsCapitalismTradeHistoricalDevelopingPerceiveFree MarketFree TradeDouble StandardDeveloping Countries
Book:Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
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“It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries.”

IfsWantNeedsGivingCountryChanceTechnologyProductsIndustryPeriodsGiving UpPaidCompetitionInternationalProtectionProducersTake TimeCheaperNew TechnologyImportsIt Takes Time
Book:Bad Samaritans: The Guilty Secrets of Rich Nations and the Threat to Global Prosperity
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“Rich countries have 'kicked away the ladder' by forcing free-market, free-trade policies on poor countries. Already established countries do not want more competitors emerging through the nationalistic policies they themselves successfully used in the past.”

WantCountryPastUsedPoorRichPolicyTradeCompetitorsFree MarketLaddersEmergingFree TradePoor CountriesRich CountriesNationalistic
Book:Bad Samaritans: The Guilty Secrets of Rich Nations and the Threat to Global Prosperity
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“Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.”

CountryBitsPoorRichEconomicPolicyScalesSocialismEnterpriseGoreEconomic SystemsFree EnterpriseAmerican WriterRich CountriesMacroeconomicsKeynesianism
Book:Bad Samaritans: rich nations, poor policies, and the threat to the developing world
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“Above a certain level of income, the relative value of material consumption vis-a-vis leisure time is diminished, so earning a higher income at the cost of working longer hours may reduce the quality of your life. More importantly, the fact that the citizens of a country work longer than others in comparable countries does not necessarily mean that they like working longer hours. They may be compelled to work long hours, even if they actually want to take longer holidays.”

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Author:Ha-Joon Chang
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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.”

PeopleMeanCountryEnoughViewsBehindsHigherEconomicsDecidedTheatreUncomfortableEtcPromotingKoreaEducation SystemHigher Education
Author:Ha-Joon Chang
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