“…we need different kinds of economics from freemarket economics”

“Good economists are not required to run good economic policies. The economic bureaucrats that have been most successful are usually not economists. During their ‘miracle’ years, economic policies in Japan and (to a lesser extent) Korea were run by lawyers. In Taiwan and China, economic
policies have been run by engineers. This demonstrates that economic success does not need people well trained in economics – especially if it is of the free-market kind.”

“Indeed, during the last three decades, the increasing influence of free-market economics has resulted in poorer economic performances all over the world, as I have shown throughout this book – lower economic growth, greater economic instability, increased inequality andfinally culminating in the disaster of the 2008 global financial crisis. Insofar as we need economics, we need different kinds of economics from freemarket economics.”

Fra “23 Things they don’t tell you about Capitalism” af professor Ha-Joon Chang, Cambridge University, UK, 

FacebookTwitterDel