23 Things They Don't Tell You about CapitalismINTERNATIONAL BESTSELLER "For anyone who wants to understand capitalism not as economists or politicians have pictured it but as it actually operates, this book will be invaluable."-Observer (UK) If you've wondered how we did not see the economic collapse coming, Ha-Joon Chang knows the answer: We didn't ask what they didn't tell us about capitalism. This is a lighthearted book with a serious purpose: to question the assumptions behind the dogma and sheer hype that the dominant school of neoliberal economists-the apostles of the freemarket-have spun since the Age of Reagan. Chang, the author of the international bestseller Bad Samaritans, is one of the world's most respected economists, a voice of sanity-and wit-in the tradition of John Kenneth Galbraith and Joseph Stiglitz. 23 Things They Don't Tell You About Capitalism equips readers with an understanding of how global capitalism works-and doesn't. In his final chapter, "How to Rebuild the World," Chang offers a vision of how we can shape capitalism to humane ends, instead of becoming slaves of the market. |
Contents
| 1 | |
Companies should not be run in the interest of their owners | 11 |
Most people in rich countries are paid more than they should be | 23 |
The washing machine has changed the world more than the internet has | 31 |
Assume the worst about people and you get the worst | 41 |
Greater macroeconomic stability has not made the world economy more stable | 51 |
Freemarket policies rarely make poor countries rich | 62 |
Capital has a nationality | 74 |
Africa is not destined for underdevelopment | 112 |
Governments can pick winners | 125 |
Making rich people richer doesnt make | 137 |
People in poor countries are more | 157 |
More education in itself is not going | 178 |
Despite the fall of communism we | 199 |
Big government makes people more | 221 |
Good economic policy does not require | 242 |
We do not live in a postindustrial age | 88 |
The US does not have the highest living standard in the world | 102 |
Notes | 265 |
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activities Africa African countries American argued average become better Britain British capita income capital capitalist economies Carlos Ghosn cent century China company’s corporations coun counterparts country’s de-industrialization despite developing countries East Asian economic development economic growth entrepreneurs equality of outcome especially example financial assets financial crisis Finland firms foreign free-market economists free-market policies Germany global Grameen Bank higher hyperinflation Iceland immigration income redistribution increase individual industrial inequality inflation investment Japan Japanese knowledge economy Korea labour market last three decades limited liability living standard long-term managers ment microcredit microfinance Moreover OECD paid people’s pick winners political poor countries post-industrial problem productivity growth profits protectionism reduce regulations resource curse share shareholders South Korea stock options Sweden technologies tell Thing tion today’s rich countries trade wages welfare workers World Bank