Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
23 Things They Don't Tell You About Capitalism Paperback – January 17, 2012
|New from||Used from|
Frequently Bought Together
Customers Who Bought This Item Also Bought
From Publishers Weekly
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to the Hardcover edition.
“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"
“Myth-busting and nicely-written collection of essays”"—Independent" (UK)
“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"
“For anyone who wants to understand capitalism not as economists or politicians have pictured it but as it actually operates, this book will be invaluable.”—John Gray, "Observer" (UK)
“A lively, accessible and pr
"Chang, befitting his position as an economics professor at Cambridge University, is engagingly thoughtful and opinionated at a much lower decibel level. 'The "truths" peddled by free-market ideologues are based on lazy assumptions and blinkered visions, ' he charges."--"Time"
"Chang presents an enlightening precis 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"
"Myth-busting and nicely-written collection of essays""--Independent"(UK)
"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"
"For anyone who wants to understand capitalism not as economists or politicians have picture
Top Customer Reviews
Chang takes on the free-marketers' dogmas and proposes ideas like - there is no such thing as a free market; the washing machine has changed the world more than the internet has; we do not live in a post-industrial age; globalisation isn't making the world richer; governments can pick winners; some rules are good for business; US (and British) CEOs are overpaid; more education does not make a country richer; and equality of opportunity, on its own, is unfair.
He notes that the USA does not have the world's highest living standard. Norway, Luxemburg, Switzerland, Denmark, Iceland, Ireland, Sweden and the USA, in that order, had the highest incomes per head. On income per hours worked, the USA comes eighth, after Luxemburg, Norway, France, Ireland, Belgium, Austria and the Netherlands. Japan, Switzerland, Singapore, Finland and Sweden have the highest industrial output per person.
Free-market politicians, economists and media have pushed policies of de-regulation and pursuit of short-term profits, causing less growth, more inequality, more job insecurity and more frequent crises. Britain's growth rate in income per person per year was 2.4 per cent in the 1960s-70s and 1.7 per cent 1990-2009. Rich countries grew by 3 per cent in the 1960s-70s and 1.4 per cent 1980-2009. Developing countries grew by 3 per cent in the 1960s-70s and 2.6 per cent 1980-2009. Latin America grew by 3.1 per cent in the 1960s-70s and 1.1 per cent 1980-2009, and Sub-Saharan Africa by 1.Read more ›
1)"There is no such thing as a free market" - we already have hygiene standards in restaurants, ban child labor, pollution, narcotics, bribery, and dangerous workplaces, require licenses for professions such as doctors, lawyers, and brokers, and limit immigration. In 2008, the U.S.Read more ›
The 23 things he discusses can be roughly clustered into a number of groups: he discusses the orthodoxies of free trade as against protectionism, the orthodoxies of free markets as against government intervention, the orthodoxies of wage policy (particularly the idea that wages are infallibly determined by individual marginal productivity), the orthodoxy that inequality of income and outcome does not matter, and finally the idea that financial managers and economists know best. On all of these points, he has very important lessons to convey to policymakers, civil servants, and the general public to show that these things should either be rejected out of hand or be taken with a large truckload of salt. Using the strengths of economic history, he accessibly shows in each of these cases how the cliché is either refuted by the facts or itself an incoherent idea, or both.Read more ›
Most Recent Customer Reviews
Although eloquently written and seemingly plausible to the layman, most of the economics presented in this book is crap. Read morePublished 2 days ago by Øystein Sjølie
It's well worth a read to hear the truth about the real economy including how the current top world economies got therePublished 1 month ago by Mr. P. A. A. Banjo
The volume is a very clear introduction to many of the free market tenets and a thoughtful introductory response basically looking back at lessons learned. Read morePublished 1 month ago by tom abeles
Great book, good shipping.
I highly suggest this book to anyone that wants to know who their true enemies are!
I could see why the author put his arguments this way to get people interested, but I felt they could mislead the readers who didn't have a whole picture about the issues. Read morePublished 4 months ago by CoastingClouds
Great book. It's a must read for anyone who wants to better understand some of the basis behind Bernie Sander's economic policy ideas. Read morePublished 5 months ago by Amazon Customer
A smashing criticism of neo-liberalism and globalization. Carefully documented and supported with economic data.Published 6 months ago by Zaratustra
Provocative Counterpoint to Conventional Free-Market Dogma. While a bit polemical it offers some interesting alternatives to economic theories that have consistently failed to... Read morePublished 8 months ago by Dana D.