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" By liberating women from household work and helping to abolish professions such as domestic service, the washing machine and other household goods completely revolutionised the structure of society. "

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" People tend to think that numbers are quite objective, but numbers in economics are not like this. Some economists say they're like sausages: you don't know what they really are until you cut into them. "

Ha-Joon Chang

People

Say

You

" The invention of the printing press was one of the most important events in human history. "

" It is one thing to tell the citizens of some faraway country to go to hell, but it is another to do the same to your own citizens, who are supposedly your ultimate sovereigns. "

" I used to joke that I came to England - not to the U.S. where most Koreans go - because I like Arthur Conan Doyle and Agatha Christie. "

" It is time that we dispensed with the myth that the market is a force of nature that should not be meddled with. Markets are social creations that can be, and have been, modified for social purposes. "

" The economy is much bigger than the market. We will not be able to build a good economy - nor a good society - unless we look at the vast expanse beyond the market. "

" When we assess the impact of technological changes, we tend to downplay things that happened a while ago. "

" In the 19th century, a lot of people were against outlawing child labour, because to do so would be against the very foundations of a free market economy: 'These children want to work, these people want to employ them... what is your problem? It's not as if anyone has kidnapped them...' "

" Sometimes people with strong ideology, whether left-wing or right-wing, refuse to do something simply because they believe it is wrong, when doing it actually benefits them. For some people, it's not just about money and political power. "

" Gone are the days when the upper classes were terrified of the angry mob wanting to smash their skulls and confiscate their properties. Now their biggest enemy is the army of lazy bums, whose lifestyle of indolence and hedonism, financed by crippling taxes on the rich, is sucking the lifeblood out of the economy. "

" Overcoming the myth that there is such a thing as an objectively defined 'free market' is the first step towards understanding capitalism. "

" If we are really serious about preventing another crisis like the 2008 meltdown, we should simply ban complex financial instruments unless they can be unambiguously shown to benefit society in the long run. "

" Unfortunately, a lot of economists wanted to make their subject a science. So the more what you do resembles physics or chemistry, the more credible you become. "

" As someone from a developing country, I have a problem with rich countries thinking they can tell us anything, simply because they are giving money. "

" I am one of the most successful economists, according to what markets tell us, though most of my professional colleagues, who are much keener to accept market outcomes than I am, would dismiss me as a crank or - the worst of all abuses among economists - a 'sociologist.' "

Ha-Joon Chang

Tell

Professional

" Very often, the judgments by ordinary citizens may be better than those by professional economists, being more rooted in reality and less narrowly focused. "

" Democracy, despite its limitations, is in the end the only way to ensure that policies do not simply benefit the privileged few. "

" Few countries have become rich through free-trade, free-market policies, and few ever will. "

" Patent monopoly creates a lot of problems. It allows the patentee to charge the maximum to consumers. This may not be a problem if the patented product is a luxury item, like parts that go into a smartphone, but can violate basic human rights if it involves things such as life-saving drugs. "

" Many financial and industrial companies have been bailed out with the public's money, but very few of those who had run those companies have been punished for their failures. Yes, the top managers of those companies have lost their jobs - but with a fat pension and mostly with a handsome severance payment. "

" Many people think that the U.S. is ahead in the frontier technology sectors as a result of private sector entrepreneurship. It's not. The U.S. federal government created all these sectors. "

" I've read quite a few readers' reviews of my book on Amazon, saying, 'Ah, he criticises the free market, he advocates central planning.' I don't do that for a minute! But this is our black and white, dichotomous way of thinking - which has really been harmful. "

" To put it bluntly, there isn't one economic theory that can single-handedly explain Singapore's success; its economy combines extreme features of capitalism and socialism. All theories are partial; reality is complex. "

" Indeed, willingness to challenge professional economists and other experts is a foundation stone of democracy. If all we have to do is to listen to the experts, what is the point of having democracy? "

" Without there being some national strategy, it is difficult for educators to know what kinds of engineers or technicians to produce and for potential students to know what professions to study for. "

" Imagine if all those kings and dukes hadn't commissioned those crazy cathedrals, paintings and music... we'd still be living in sticks and mud. Because none of those things made any economic sense. Human beings' capacity to 'waste time' is a miracle - but that's exactly what art is for. "

" Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry. "

" I think this notion that public enterprises do not work and therefore nationalization will be a disaster, I mean, it's not supported by evidence. "

" Instead of reading a paper, we now read the news online. Instead of buying books at a store, we buy them on-line. What's so revolutionary? The Internet has mainly affected our leisure life. "

" Free market economists frequently see minimum wage legislation as mere political intervention. However, there are decent economic theories which show that, under certain circumstances, minimum wages can be beneficial, as it makes workers more productive. "