Best quotes by Ha-Joon Chang on Political

Checkout quotes by Ha-Joon Chang on Political

• ‟ Free market economists frequently see minimum wage legislation as mere political intervention. However, there are decent economic theories which show that, under certain circumstances, minimum wages can be beneficial, as it makes workers more productive.

  - Ha-Joon Chang
  

• ‟ A lot of things that we cannot buy and sell in markets used to be totally legal objects of market exchange - human beings when we had slavery, child labour, human organs, and so on. So there is no economic theory that actually says that you shouldn't have slavery or child labour because all these are political, ethical judgments.

  - Ha-Joon Chang
  

• ‟ Sometimes people with strong ideology, whether left-wing or right-wing, refuse to do something simply because they believe it is wrong, when doing it actually benefits them. For some people, it's not just about money and political power.

  - Ha-Joon Chang
  

• ‟ Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry.

  - Ha-Joon Chang
  

• ‟ It is impossible to objectively define how free a market is. This is a political definition. Government is always involved, and those free marketers are as politically motivated as anyone.

  - Ha-Joon Chang