Thing 1: There is no such thing as the free market.
Thing 4: The washing machine has changed the world more than the Internet.
Thing 5: Assume the worst about people, and you get the worst.
Thing 13: Making rich people richer doesn't make the rest of us richer.
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 best seller 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 listeners 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.
Ha-Joon Chang teaches in the Faculty of Economics at the University of Cambridge. His books include the best-selling Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism. His Kicking Away the Ladder received the 2003 Myrdal Prize, and, in 2005, Chang was awarded the Leontief Prize for Advancing the Frontiers of Economic Thought.
©2011 Ha-Joon Chang (P)2011 Audible, Inc.
"Shaking Economics 101 assumptions to the core … Eminently accessible, with a clearly liberal (or at least anticonservative) bent, but with surprises along the way—for one, the thought that markets need to become less rather than more efficient." (Kirkus Reviews)
"An advocate of big, active government and capitalism as distinct from a free market, Chang presents an enlightening précis of modern economic thought - and all the places it's gone wrong, urging us to act in order to completely rebuild the world economy: 'This will make some readers uncomfortable... it is time to get uncomfortable.'" (Publishers Weekly)
Ha-Joon Chang no way.Joe Barret yes.
The narrator was good.
Disappointment as it contain incorrect "facts".
Some of the things that ruined the book:Fanny May and Freddie Mac was never true private companies. He does not even mention the affordable housing act, and the real involmemnt of these two giants. The time periode from the 80's until now did not have a completely free market as he claims. He also equate personal risk and benefit with the notion that this automatically leads to people trying to cheat and hurt everybody else. This is the worst drivel I have ever tried to read.
This is by far the best book on economics that I have read. Dr. Chang is clear, articulate, interesting and at times even humorous as he peels back the myths people believe regarding capitalism as well as the misunderstandings and false assumptions most folks labor under regarding this American sacred cow. He is in no way anti capitalism. Like Churchhill was about democracy, Chang argues that capitalism is the best of many poor economic choices. He does go into great detail explaining how he believes this sacred system could be tweaked and engineered to serve more of society with better outcomes. This liberal message did more to move me to the right in my economic philosophy than anything that I have read. He gave me hope that there can be a form of capitalism that does not produce more losers than winners. I am looking forward to reading his previous book, Bad Samaritans .
A liberal's view of what's right and wrong with both free market and government controlled economics.
Should be mandatory reading for all politicians and bankers.
He does not stumble over the big words.
Global finances 101.
I agree with most of the analysis and conclusions of this book. The author promises to talk plainly about the economic points he is making -- but the "econ-o-speak" is definitely still present. Some of the information could have been better translated into everyday English.
Addicted to audible. One the best things that happened to me
This book is a must read for developing nations that are following blindly what is done at the developed countries economies without considering their action.
I read this book with an open mind. Its rationale, articulate and precise thoughts made me listen carefully to every word with all my senses. Surely, after done reading it, you will believe that the market is not as free as we like to think it is, but rather as long as humane efforts are based on individualism and the interest of big powers vs. those who are crushed in developing and underdeveloped nations, the world will never have hope for the future. It is only by the collective minds and powers of all people can we overtake this critical stage in humanity's life.
Finally, it is interesting to listen to this book from a southern American accent while the author is Korean!
A great informative book, that helped me see deeper into economics and policies. I saw it as a center of the isle view into what is going on.
Gives you new insight on free market capitalism and as you read along you start to realize about the problems that lied underneath our current economic crisis isn't just a coincidence. Offers you new sight and viewpoints on current
This book is a lucid and clear disquisition on what goes for "free market" thinking. It examines 23 commonly expressed platitudes about economics and where they fail to explain economic and financial processes. It thereby provides interesting insights to the financial failures of 2008 and the present days. The reading matches the writing, making it difficult to put down. I now want to review the arguments on paper, as they are worthy of closer study.
I might be a little impatient and I did start flicking through chapters at the end, I would recommend listening to the book but only the first 5 min of last 14 points. I have to say I did take away a few really good points and questions on process, and what I though some solid arguments for the points being raised. The book was detracted from however in the second half as the view for the justifications started to get less factual and more "evangelical" in my view.
All in all I think a 4 star book if you do the "Abridged" version by listening to the first few chapters in full and then just the opening, as the reasoning becomes repetitive and the points less relevant.
I listened to this and then "The Age of Turbulence" gave an interesting view into some of the comments.
There were some great points raised that I think sparked the thought process and will continue to float in the back of my mind, especially when the discussion of "free markets", "wage control" etc arise.
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