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23 Things They Don't Tell You About Capitalism Paperback – January 17, 2012
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From Publishers Weekly
Chang (Bad Samaritans) takes on the "free-market ideologues," the stentorian voices in economic thought and, in his analysis, the engineers of the recent financial catastrophe. Free market orthodoxy has inserted its tenterhooks into almost every economy in the world--over the past three decades, most countries have privatized state-owned industrial and financial firms, deregulated finance and industry, liberalized international trade and investments, and reduced income taxes and welfare payments. But these policies have unleashed bubbles and ever increasing income disparity. How can we dig ourselves out? By examining the many myths in the narrative of free-market liberalism, crucially that the name is itself a misnomer: there is nothing "free" about a market where wages are largely politically determined; that greater macroeconomic stability has not made the world economy more stable; and a more educated population itself won't make a country richer. An advocate of big, active government and capitalism as distinct from a free market, 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 some readers uncomfortable... it is time to get uncomfortable." (Jan.) (c)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
“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
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No matter where ideologically you lean in, it is definitely worth reading it