Summary of 23 Things They Don't Tell You About Capitalism

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Economist Ha-Joon Chang challenges conventional thinking about economics with 23 points you may not know about market economies. He takes on those who righteously defend unbridled free-market capitalism and minimal regulation as the only paths to financial nirvana for all. Using compelling research, statistics and case studies, Chang explains how change disarms the fiercest “free-marketeers” of their received wisdom. While some of his arguments may be debatable, he offers an interesting alternative to the other explanations for the world’s currently dismal fiscal dilemma and uncertain political landscape. getAbstract recommends this fresh interpretation to readers interested in their own, and the world’s, economic future.

In this summary, you will learn

  • What 23 aspects of capitalism you may not already know,
  • Why “the free-market ideology” is flawed according to the author and
  • How to practice “active economic citizenship.”
 

About the Author

Ha-Joon Chang is an economist and teaches at the University of Cambridge. He wrote the best-selling book Bad Samaritans.

 

Summary

Free Markets Are Make-Believe
The 2008 global financial meltdown traces its origins to “the free-market ideology.” Since the early 1980s, “free-marketeers” have advanced the notion that markets are always fully efficient and fair, and that government regulation and interference in those...

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