Quotes by Ha-Joon Chang

Ha-Joon Chang

[Good managers] know that people have ‘good’ sides and ‘bad’ sides and that the secret of good management is in magnifying the former and toning down the latter.

Good Man

People

Secret

95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all the technical details, can be explained in plain terms.

Common Sense

Details

Essentials

95% of Economics is common sense deliberately made complicated.

Common Sense

Complicated

Economics

A well-designed welfare state can actually encourage people to take chances with their jobs and be more, not less, open to changes.

Chance

Jobs

People

Above a certain level of income, the relative value of material consumption vis-a-vis leisure time is diminished, so earning a higher income at the cost of working longer hours may reduce the quality of your life. More importantly, the fact that the citizens of a country work longer than others in comparable countries does not necessarily mean that they like working longer hours. They may be compelled to work long hours, even if they actually want to take longer holidays.

Country

Holiday

Mean

All the alleged key causes of SOE [State-Owned Enterprise] inefficiency – the principal-agent problem, the free-rider problem and the soft budget constraint – are, while real, not unique to state-owned enterprises. Large private-sector firms with dispersed ownership also suffer from the principal-agent problem and the free-rider problem. So, in these two areas, forms of ownership do matter, but the critical divide is not between state and private ownership – it is between concentrated and dispersed ownerships.

Keys

Real

Unique

As South Korea shows, active participation in international trade does not require free trade. Indeed, had South Korea pursued free trade and not promoted infant industries, it would not have become a major trading nation. It would still be exporting raw materials (e.g., tungsten ore, fish, seaweed) or low-technology, low-price products (e.g., textiles, garments, wigs made with human hair) that used to be its main export items in the 1960s.

Hair

Korea

Technology

Assume the worst about people and you get the worst.

Assuming

People

Worst

Between the Great Depression and the 1970s, private business was viewed with suspicion even in most capitalist economies. Businesses were, so the story goes, seen as anti-social agents whose profit-seeking needed to be restrained for other, supposedly loftier, goals, such as justice, social harmony, protection of the weak and even national glory.

Capitalist Economy

Goal

Justice

Corruption exists because there is too much, not too little, market.

Corruption

Littles

Too Much

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Acquisition

Advantage

Ambition

Arguing

Army

Assuming

Balance

Block

Business

Capitalist Economy

Chance

Choices

Clever

Common Sense

Complicated

Corruption

Cost

Country

Culture

Currents

Cutting

Democracy

Details

Development

Different

Doe

Economic

Economics

Effort

Enough

Environment

Environmental Pollution

Essentials

Failing

Financial

Financial Markets

Force

Form

Foundation

Free Market

Giving Up

Goal

Good Man

Government

Growth

Hair

Historical

Holiday

Honesty

Hyperinflation

The Future Blueprint

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The Home Therapist: Anti Anxiety

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The Autobiography

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Quotes by Ha-Joon Chang

Ha-Joon Chang

[Good managers] know that people have ‘good’ sides and ‘bad’ sides and that the secret of good management is in magnifying the former and toning down the latter.

95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all the technical details, can be explained in plain terms.

95% of Economics is common sense deliberately made complicated.

A well-designed welfare state can actually encourage people to take chances with their jobs and be more, not less, open to changes.

Assume the worst about people and you get the worst.

Corruption exists because there is too much, not too little, market.

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Topics by Ha-Joon Chang

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The Future Blueprint

The Home Therapist: Anti Anxiety

The Autobiography

The Behaviour Diary

The Dating Diary

The Relationship Therapist

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