Phrase by 'Ha-Joon Chang'
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Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it conducts monetary policy. The subject has to be defined in terms of the object of inquiry.
Author: Ha-Joon Chang - South Korean EconomistPeople , Things , Government , Economics
Patent monopoly creates a lot of problems. It allows the patentee to charge the maximum to consumers. This may not be a problem if the patented product is a luxury item, like parts that go into a smartphone, but can violate basic human rights if it involves things such as life-saving drugs.
Author: Ha-Joon Chang - South Korean EconomistProblems , Go , Problem , Luxury
Without there being some national strategy, it is difficult for educators to know what kinds of engineers or technicians to produce and for potential students to know what professions to study for.
Author: Ha-Joon Chang - South Korean EconomistKnow , Difficult , Engineers , Strategy
In the 19th century, a lot of people were against outlawing child labour, because to do so would be against the very foundations of a free market economy: 'These children want to work, these people want to employ them... what is your problem? It's not as if anyone has kidnapped them...'
Author: Ha-Joon Chang - South Korean EconomistPeople , Work , Children , Child
People tend to think that numbers are quite objective, but numbers in economics are not like this. Some economists say they're like sausages: you don't know what they really are until you cut into them.
Author: Ha-Joon Chang - South Korean EconomistYou , People , Think , Economics
When I was growing up in South Korea in the '70s and early '80s, the country was too poor to buy original records. Everything was bootlegged.
Author: Ha-Joon Chang - South Korean EconomistEverything , Growing Up , Poor , Country
As a consumer, I don't create art, but I think whatever the message is, art has to touch you.
Author: Ha-Joon Chang - South Korean EconomistYou , Think , Art , Touch
As someone from a developing country, I have a problem with rich countries thinking they can tell us anything, simply because they are giving money.
Author: Ha-Joon Chang - South Korean EconomistMoney , Thinking , Problem , Rich
Why do tax havens exist? Because rich countries allow them to. If the U.S. came down on tax havens in the same way they come down on countries that trade with Iran and Cuba, we'd have no tax havens in the world.
Author: Ha-Joon Chang - South Korean EconomistWorld , Way , Down , Rich
When we assess the impact of technological changes, we tend to downplay things that happened a while ago.
Author: Ha-Joon Chang - South Korean EconomistHappened , Things , Impact , Changes
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