Show Notes
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#freemarketmyth #managedcapitalism #financialderegulation #industrialpolicy #activeeconomiccitizenship #23ThingsTheyDon039tTellYouaboutCapitalism
23 Things They Do Not Tell You About Capitalism by Ha-Joon Chang is a work of popular political economy that challenges the assumptions behind neoliberal and free market thinking. Written after the 2008 financial crisis, the book presents twenty three short arguments against ideas commonly treated as economic common sense, including the belief that markets are naturally free, that globalization reliably enriches everyone, that high executive pay reflects superior performance, and that governments should stay out of economic management. Chang does not reject capitalism itself. Instead, he argues that capitalism has always existed in many forms and that prosperous economies have usually depended on active public institutions, regulation, industrial policy, and social protection. The book is aimed at general readers rather than specialists, using accessible examples and historical comparisons to show that economic rules are political choices. Its purpose is to make readers more skeptical of expert dogma and more capable of judging economic policy as citizens.