23 things they dont tell you about capitalism

[Epsilon Delta]

I really wanted to get this book, cuz I like Chang a lot (read most of Kicking Away the Ladder in university), but haven't gotten my hands on it yet, only read through the first couple of chapters - made some good points right off the bat, but I'd rather read the whole thing before commenting.

Amazon here I come!

 

[Truthmatters]

Unfettered caplitalism is a pipe dream that does n ot and never can exsist in the real world.

Really? Considering you don't live in the real world I consider that a compliment.

Go get your proof it has EVER produced the effects you claim it will.

You cant because never in history has it done so.

 

[Mad Scientist]

Unfettered caplitalism is a pipe dream that does n ot and never can exsist in the real world.

Socialism is a pipe dream that does n ot and never can exsist in the real world.

 

[Truthmatters]

I agree with that statement without any reserve.

 

[Immanuel]

Unfettered caplitalism is a pipe dream that does n ot and never can exsist in the real world.

Socialism is a pipe dream that does n ot and never can exsist in the real world.

It is so cruel of you to try to shatter her dreams in this way. You deserve a swift kick in the ass!

Immie

 

[Truthmatters]

this is the resuot of you not really listening to what people say but pretending they say something else.

 

[Uncensored2008]

I bet you didnt even read one word of the op huh?

Bet you didn't even write one word of it....

It's okay that you have others think for you Truthinessblabbers, gawd knows you lack the needed parts to think for yourself.....

 

[Uncensored2008]

Unfettered caplitalism is a pipe dream that does n ot and never can exsist in the real world.

How the fuck would you know? Seriously! You have at best a 5th grade education, you have no grasp of the concepts at play. Chang is an admitted Marxist, but at least he has knowledge of the issues and concepts.

You OTH, do not.

 

[Uncensored2008]

I really wanted to get this book, cuz I like Chang a lot (read most of Kicking Away the Ladder in university), but haven't gotten my hands on it yet, only read through the first couple of chapters - made some good points right off the bat, but I'd rather read the whole thing before commenting.

Amazon here I come!

But if you BUY the book, aren't you violating everything Chang stands for? Wouldn't it be better to smash the window of Barns & Noble, steal the book and burn down the store on your way out? You know, uphold those Marxist ideals.....

 

[Truthmatters]

Again another fool who didtn read the OP

 

[Truthmatters]

Unfettered caplitalism is a pipe dream that does n ot and never can exsist in the real world.

How the fuck would you know? Seriously! You have at best a 5th grade education, you have no grasp of the concepts at play. Chang is an admitted Marxist, but at least he has knowledge of the issues and concepts.

You OTH, do not.

Got any proof?

 

[Immanuel]

this is the resuot of you not really listening to what people say but pretending they say something else.

As the saying goes... pot meet kettle.

Immie

 

[editec]

23 Things They Don't Tell You About Capitalism by Ha-Joon Chang | Book review | Books | The Observer


his 2008 book, Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, Chang – an economist himself, a specialist in the political economy of development – mocked one of the central orthodoxies of his profession: the belief that global free trade raises living standards everywhere.

I observe that the FREE TRADE policies that we currently have are rising the living standards only for a rather select group of people world wide.

Of course it is hard to generalize, but international trade effects different people within a nation in very different ways. Certainly it is a boon to SOME people, but is it a boon to most people in a nation?

I'd have to ask you what nation are we talking about to even begin to posit an answer.

23 Things They Don't Tell You About Capitalism assaults economic orthodoxy on a much larger front. Dip into this witty, iconoclastic and uncommonly commonsensical guide to the follies of economics, and, among many other things, you will learn that free market policies rarely make poor countries richer; global companies without national roots belong in the realm of myth;

I'd like to see his argument behind that theory.

the US does not have the highest living standards in the world;

Clearly it does not.

the washing machine changed the world more than the internet;

I find that difficult to believe.

more education does not of itself make countries richer;

Clearly that is true.

financial markets need to become less, not more efficient;

I suspect he's playing rhetorical games with the meaning of the word "efficient" to make that argument

and – perhaps most shocking to Chang's colleagues – good economic policy does not require good economists.

Obviously true, also.

Each of Chang's 23 propositions may seem counterintuitive, even contrarian. But every one of them has a basis in fact and logic, and taken together they present a new view of capitalism.

New? Or merely not the normal 8th grade level blather that most people believe is economics, I wonder?

Chang may be our best critic of capitalism, but he is far from being any kind of anti-capitalist. He recognises the failings of centrally planned economies, and rightly describes capitalism as "the worst economic system except for all the others".

I'm with him in that regard.

At the same time he is confident that capitalism can be reformed to prevent crises like the one we have just experienced recurring.

Undoubtably it could be reformed to prevent the capital crises we just experienced.

Sadly, I don't think we have the political will to do so.

Making markets more transparent is not enough. "If we are really serious about preventing another crisis like the 2008 meltdown," Chang writes, "we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run."

Well...that may be one approach, but it would NOT be the approach I would take if I were KING of the economy.

He is aware that he risks sounding extreme, but argues that the ban he proposes is no different from those that have been enforced on other dangerous products. "This is what we do all the time with other products – drugs, cars, electrical products and many others."

It isn't that it SOUNDS extreme that troubles me.

It's that it violates the principle that people have the right to make up their own minds.

IF we want to limit the sort of casino gambling that these exotic debt instruments (and derivatives, too) represent, I think it a better move to disallow those who are investing other people's MONEY (read banks, pension funds, insurance companies and the like) from investing in those HIGH risk exotic instruments.

I guess I really need to read the book.

 

[Uncensored2008]

Got any proof?

Proof that you're a fucking idiot?

http://www.usmessageboard.com/

 

[Two Thumbs]

To balance out Truthiepoo, you may want to read Ha-Joon's wiki-bio, as well as what Heterodox Economics are before you go passing out seals of approval. You may temper your view of his view.

Ha-Joon Chang - Wikipedia, the free encyclopedia

Heterodox economics - Wikipedia, the free encyclopedia

Chang's contribution to heterodox economics started while studying under Robert Rowthorn, a leading British Marxist economist,[10] with whom he worked on the elaboration of the theory of industrial policy.

Do I need to keep reading up on him after that?

Or is this guy a wannabe tyrant?

 

[Uncensored2008]

Do I need to keep reading up on him after that?

Or is this guy a wannabe tyrant?

Honestly, Chang is kind of interesting. He's sort of bizarre. He acknowledges that he's a Marxist, yet advocates a pseudo-capitalist economy. He doesn't like capitalism, but acknowledges that it's more effective than socialism.

He is not a moron like Krugman. He doesn't invent absurd economic ideas to support his political beliefs.

Just because Truthinessblathers is a complete drooling retard, don't discount Chang. Don't get me wrong, I completely disagree with the guy, but he IS interesting.

 

[Quantum Windbag]

23 Things They Don't Tell You About Capitalism by Ha-Joon Chang | Book review | Books | The Observer


his 2008 book, Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, Chang – an economist himself, a specialist in the political economy of development – mocked one of the central orthodoxies of his profession: the belief that global free trade raises living standards everywhere. 23 Things They Don't Tell You About Capitalism assaults economic orthodoxy on a much larger front. Dip into this witty, iconoclastic and uncommonly commonsensical guide to the follies of economics, and, among many other things, you will learn that free market policies rarely make poor countries richer; global companies without national roots belong in the realm of myth; the US does not have the highest living standards in the world; the washing machine changed the world more than the internet; more education does not of itself make countries richer; financial markets need to become less, not more efficient; and – perhaps most shocking to Chang's colleagues – good economic policy does not require good economists. Each of Chang's 23 propositions may seem counterintuitive, even contrarian. But every one of them has a basis in fact and logic, and taken together they present a new view of capitalism.

Chang may be our best critic of capitalism, but he is far from being any kind of anti-capitalist. He recognises the failings of centrally planned economies, and rightly describes capitalism as "the worst economic system except for all the others". At the same time he is confident that capitalism can be reformed to prevent crises like the one we have just experienced recurring. Making markets more transparent is not enough. "If we are really serious about preventing another crisis like the 2008 meltdown," Chang writes, "we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run." He is aware that he risks sounding extreme, but argues that the ban he proposes is no different from those that have been enforced on other dangerous products. "This is what we do all the time with other products – drugs, cars, electrical products and many others."

How does he deal with the studies that contradict his premise?

 

[2012rockthevote]

his 2008 book, Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, Chang – an economist himself, a specialist in the political economy of development – mocked one of the central orthodoxies of his profession: the belief that global free trade raises living standards everywhere. 23 Things They Don't Tell You About Capitalism assaults economic orthodoxy on a much larger front. Dip into this witty, iconoclastic and uncommonly commonsensical guide to the follies of economics, and, among many other things, you will learn that free market policies rarely make poor countries richer; global companies without national roots belong in the realm of myth; the US does not have the highest living standards in the world; the washing machine changed the world more than the internet; more education does not of itself make countries richer; financial markets need to become less, not more efficient; and – perhaps most shocking to Chang's colleagues – good economic policy does not require good economists. Each of Chang's 23 propositions may seem counterintuitive, even contrarian. But every one of them has a basis in fact and logic, and taken together they present a new view of capitalism.Quote."

Capitalism and corporations in themself causes a company to exploit countries. The United States and the process shouldn't be blamed for bad regulation and working standards in other countries. Capitalism should be monitored and the financial actions of those on wall street and in very large companies should be of more critical concern to the FBI than the drug war considering how twice within the last century our economic liviehood has been threatened by corrupt bussinessman and stockbrokers.

 

[American Cowboy]

[ame=http://www.youtube.com/watch?v=mEZ4St2BYnk&feature=player_embedded]YouTube - ‪Stick Figure Logic: The Truth About Capitalism.flv‬‏[/ame]

 

[Big Fitz]

To balance out Truthiepoo, you may want to read Ha-Joon's wiki-bio, as well as what Heterodox Economics are before you go passing out seals of approval. You may temper your view of his view.

Ha-Joon Chang - Wikipedia, the free encyclopedia

Heterodox economics - Wikipedia, the free encyclopedia

Chang's contribution to heterodox economics started while studying under Robert Rowthorn, a leading British Marxist economist,[10] with whom he worked on the elaboration of the theory of industrial policy.

Do I need to keep reading up on him after that?

Or is this guy a wannabe tyrant?

DING! You win a debt ceiling.