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23 Things They Don't Tell You About Capitalism
Book

23 Things They Don't Tell You About Capitalism

Bloomsbury Press, 2011 mais...

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Editorial Rating

8

Qualities

  • Innovative

Recommendation

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.

Take-Aways

  • The 2008 global financial meltdown traces its origins to “free-market ideology.”
  • This branch of economics posits that markets are always fully efficient and fair, and that government regulation is both unnecessary and deleterious.
  • But free markets don’t exist, and they never have: Society always has and still imposes its rules on markets.

About the Author

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


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