Ha-Joon Chang

trickle-down economics tax cut rich redistribution

“Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rich as what they are -- a simple upward redistribution of income, rather than a way to make all of us richer, as we were told.”

― Ha-Joon Chang

pollution over-produce pay cost

“People 'over-produce' pollution because they are not paying for the costs of dealing with it.”

― Ha-Joon Chang

boost economy redistribute wealth downward poor income

“The best way to boost the economy is to redistribute wealth downward, as poorer people tend to spend a higher proportion of their income.”

― Ha-Joon Chang

people poor country entrepreneur survive

“People who live in poor countries have to be entrepreneurial even just to survive.”

― Ha-Joon Chang

95% economics common sense

“95% of economics is common sense”

― Ha-Joon Chang

market weed inefficient practice power manipulate

“Markets weed out inefficient practices, but only when no one has sufficient power to manipulate them.”

― Ha-Joon Chang

95%economics common sense difficult jargon mathematics

“that 95 per cent of economics is common sense – made to look difficult, with the use of jargons and mathematics.”

― Ha-Joon Chang

technical profession incentive complicate justify fee

“all technical professions have an incentive to make themselves look more complicated than they really are so that they can justify the high fees their members charge for their services.”

― Ha-Joon Chang

rich people rest

"Making rich people richer doesn't make the rest of us richer."

― Ha-Joon Chang

assume worst people get

"Assume the worst about people and you get the worst."

― Ha-Joon Chang

equality opportunity meaningless capability

"Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it."

― Ha-Joon Chang

waching machine change world internet

"The washing machine changed the world more than the Internet."

― Ha-Joon Chang

free market

"There is no such thing as a free market."

― Ha-Joon Chang