Sunday, March 8, 2015

23 Things They Don't Tell You About Capitalism by Dr. Ha-Joon Chang

I'd like to recommend this great book. 

Here's a short summary of the topics Dr. Ha-Joon Chang covers:

Thing 1: There is no such thing as a free market
Thing 2: Companies should not be run in the interest of their owners
Thing 3: Most people in rich countries are paid more than they should be
Thing 4: The washing machine has changed the world more than the internet has
Thing 5: Assume the worst about people and you get the worst
Thing 6: Greater macroeconomic stability has not made the world economy more stable
Thing 7: Free-market policies rarely make poor countries rich
Thing 8: Capital has a nationality
Thing 9: We do not live in a post-industrial age
Thing 10: The US does not have the highest living standard in the world
Thing 11: Africa is not destined for underdevelopment
Thing 12: Governments can pick winners
Thing 13: Making rich people richer doesn’t make the rest of us richer
Thing 14: US managers are over-priced
Thing 15: People in poor countries are more entrepreneurial than people in rich countries
Thing 16: We are not smart enough to leave things to the market
Thing 17: More education in itself is not going to make a country richer
Thing 18: What is good for General Motors is not necessarily good for the United States
Thing 19: Despite the fall of communism, we are still living in planned economies
Thing 20: Equality of opportunity may not be fair
Thing 21: Big government makes people more open to change
Thing 22: Financial markets need to become less, not more, efficient
Thing 23: Good economic policy does not require good economists

Featured Post

Who Do You Believe?

Who Do You Believe? by Bryan J. Neva, Sr. We're all bombarded with too much information!   There's 24/7 news, information, ...