Prof. Ha-Joon Chang: 23 Things They Don’t Tell You About Capitalism
These are from a series of interviews with Cambridge Economics Professor, Ha-Joon Chang, on “Things They Don’t Tell You About Capitalism” based on his new book. What Professor Ha-Joon Chang is talking about is not really debatable theoretically. He is discussing traditional neo-classical economic theory, and therefore his statements are all valid within its orthodox theoretical standpoint. What he is pointing out is that in reality there are lots of limits which have interesting and contradictory results when applied to the theory. These limits imply that the type of “free-market” economics discussed by many economists and libertarians is incorrect and leads to inefficient and dangerous results in practice. As Professor Ha-Joon Chang puts it, this type of economics is not scientifically valid, but rather it gets so much attention because it serves to justify the status-quo.
He has given longer speeches based on his book, if that is more your cup of tea. What is nice about these interviews is that they are shorter, a bit more to the point, and self contained. What follows is the first set of interviews, I will post follow-up interviews when they become available.
American Capitalism, Free-Markets, and Alternative Models
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