Ha-Joon makes Economics accessible to everybody & his reasoning is so compelling it is impossible not to accept what he is saying. On a personal note it's nice to hear an academic giving credence to my long held views. Thank you Ha-Joon for facilitating dialogues about 'globalization in real world', away from blinkered and often short-sighted established academic/political views which have been so disappointing.
warriorprince101010 One think Ha Joon is not wrong about is that Adam Smith was against the limited liability corporation as destructive to society, leading to management inefficiencies and abuse of state power. Nor was he wrong that Karl Marx supported limited liability corporation as the way to bring about socialism and ultimately Communism. It would help if people actually read the philosophies they "support" and "disparage" without ever reading them...
Why don't you try arguing the points of the discussion? And not insult people when you know you're out classed by a Libertarian. Breathing or not.You 're ignorant and arrogant in one comment!! Your parents must be so proud?
This Ha-Joon Chung Big Gov't approach has been tried for about 100,000 years . Since the industrial revolution and the birth of Neo Classical economics, the best path is Gov't emphasis on Capitalism and Free Markets. Since the birth of our nation 1776 and the birth of economics 1776, only Capitalism has brought whole nations out of poverty. What happened that lead to the US Great Depression and the other US recessions of the 20th century? Federal Reserve and a 33% drop in the money supply for the great depression and Crowding Out of Private Investment due to transfer payments being financed by Gov't Borrowing for every other recession (except maybe the Dot.com boom. Just listen to Chang . And do the opposite of what he proposes. Chang was a civil servant in South Korea helping His Socialist Gov't policies be implemented. Look at South Korea with a Ha Chang emphasis on Gov't socialist economic policies. And compare to Honk Kong and /Or USA nations that emphases Free Markets Capitalism.. Korea is only about half our buying power in their incomes and Korean growth is not what it should be.compared to Free market economies. I can see why he is in London and not the USA?. His BS would not fly at Economic Department.of USA Universities. Note: US Private Universities are 7 of 10 on the worlds best Univ. list. Also, the USA owns the top six spots. All Private. USA Gov't run Universities, except Berkley and University of Washington, ,dominate the top 40 spots. Berkley and U of Washington are in the top 20's.(My data is from the Economist Magazine, a left of center economic magazine)
Zatzzo Really? you do not even give an example. Basically Chang is a throw back to the economists of the USA and Britain in 1950s following Keynesian blindly into the disaster that the Great Society brought us. His is just another collectivist.
Zatzzo i guess we just disagree. Can you explain why, since the start of the great society policies in the late 1960s to today, why has the historical trend of decreasing USA poverty, of 1/2 to 1% on average per year, has reversed and now there has been increasing iUSA poverty on average since the Great Society started trying to help the poor?
I cannot even list all the logical fallacies in his reasoning. Just one that made me laugh out loud : the indian and the dutch bus drivers. The dutch have no birth advantage for being dutch, the only reason they earn more is because the people they trade with are more productive. If the indian driver moves to netherlands, he will earn just as much. Also, unbacked assertions everywhere. Terrible, terrible talk.
Ha-Joon makes Economics accessible to everybody & his reasoning is so compelling it is impossible not to accept what he is saying. On a personal note it's nice to hear an academic giving credence to my long held views. Thank you Ha-Joon for facilitating dialogues about 'globalization in real world', away from blinkered and often short-sighted established academic/political views which have been so disappointing.
Ha Joon is a breath of fresh air. He is able to see past the same intellectual garbage and give an independent and critical view point.
Brilliant lecture
Agreed!
warriorprince101010 One think Ha Joon is not wrong about is that Adam Smith was against the limited liability corporation as destructive to society, leading to management inefficiencies and abuse of state power. Nor was he wrong that Karl Marx supported limited liability corporation as the way to bring about socialism and ultimately Communism. It would help if people actually read the philosophies they "support" and "disparage" without ever reading them...
Why don't you try arguing the points of the discussion? And not insult people when you know you're out classed by a Libertarian. Breathing or not.You 're ignorant and arrogant in one comment!! Your parents must be so proud?
This Ha-Joon Chung Big Gov't approach has been tried for about 100,000 years . Since the industrial revolution and the birth of Neo Classical economics, the best path is Gov't emphasis on Capitalism and Free Markets. Since the birth of our nation 1776 and the birth of economics 1776, only Capitalism has brought whole nations out of poverty. What happened that lead to the US Great Depression and the other US recessions of the 20th century? Federal Reserve and a 33% drop in the money supply for the great depression and Crowding Out of Private Investment due to transfer payments being financed by Gov't Borrowing for every other recession (except maybe the Dot.com boom. Just listen to Chang . And do the opposite of what he proposes.
Chang was a civil servant in South Korea helping His Socialist Gov't policies be implemented. Look at South Korea with a Ha Chang emphasis on Gov't socialist economic policies. And compare to Honk Kong and /Or USA nations that emphases Free Markets Capitalism.. Korea is only about half our buying power in their incomes and Korean growth is not what it should be.compared to Free market economies.
I can see why he is in London and not the USA?. His BS would not fly at Economic Department.of USA Universities. Note: US Private Universities are 7 of 10 on the worlds best Univ. list. Also, the USA owns the top six spots. All Private. USA Gov't run Universities, except Berkley and University of Washington, ,dominate the top 40 spots. Berkley and U of Washington are in the top 20's.(My data is from the Economist Magazine, a left of center economic magazine)
Marcus Porcius Cato TheYounger
What you are saying has absolutely nothing to do with what Ha Joon Chang is talking about in this lecture.
Zatzzo Really? you do not even give an example. Basically Chang is a throw back to the economists of the USA and Britain in 1950s following Keynesian blindly into the disaster that the Great Society brought us. His is just another collectivist.
I don't think the Great Society brought us disaster. I think Lehman did.
Zatzzo i guess we just disagree. Can you explain why, since the start of the great society policies in the late 1960s to today, why has the historical trend of decreasing USA poverty, of 1/2 to 1% on average per year, has reversed and now there has been increasing iUSA poverty on average since the Great Society started trying to help the poor?
How would the GS have caused this in your view?
I cannot even list all the logical fallacies in his reasoning. Just one that made me laugh out loud : the indian and the dutch bus drivers. The dutch have no birth advantage for being dutch, the only reason they earn more is because the people they trade with are more productive. If the indian driver moves to netherlands, he will earn just as much. Also, unbacked assertions everywhere. Terrible, terrible talk.