23 things they don't tell you about capitalism
by Ha-Joon Chang · first published 2010
50% recommend50% neutral
Why HN recommends it
An economist's accessible critique of free-market assumptions and mainstream economics, suggested for readers wanting a grounded, non-partisan view of how the economy works beyond political talking points.
Summarised by Claude from recommending comments
Challenges popular misconceptions while making startling revelations about free-market practices, explaining the author's views on global capitalism dynamics while making recommendations for reshaping capitalism to humane ends.
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…the technology sector (which would hurt profits). I urge urge urge you to reevaluate your understanding of economics as well. I recently made a book recommendation on here, I'd like to make it again. 23 Things They Don't Tell You About Capitalism by Ha-Joon Chang Economism by James Kwak And no it's not at all hard to argue against the invisible hand theory although I'd really like to not do that here. But just consider how far physics has advanced…
on “When the Patient Is a Gold Mine: The Trouble with Rare-Disease Drugs” ↗…of gray here. >I need a better explanation than hand wringing and worship of Piketty. Have you read Piketty? I'm going to recommend two books which should be a gentle introduction to my viewpoint: 23 Things They Don't Tell You About Capitalism by Ha-Joon Chang Economism: Bad Economics and the Rise of Inequality by James Kwak EDIT: I'd also note that one of the things that frustrates me most is to see the politicization of economics. The misuse…
on “Debunking “America has become so anti-innovation – it's economic suicide”” ↗Same as mine operators employing kids in 19th century England, or current Chinese companies with their fucked 9-9-6 system. Ha-Joon Chang's 23 Things They Don't Tell You About Capitalism should be mandatory reading for any person commenting online about the modern economic system.
on “Amazon started a Twitter war because Jeff Bezos was pissed” ↗Have you read 23 Things they Don't tell you about Capitalism, by chance? I think you would enjoy it. http://www.amazon.com/Things-They-Dont-About-Capitalism/dp/1...
on “Google Fiber is coming to Atlanta, Charlotte, Nashville and Raleigh-Durham” ↗…time provides more in depth critique than an introductory book usually would, of where Economics 101 fails, and how it tends to get over-applied in policy. Ha Joon Chang, Economics: the Users Guide and 23 Things They Don't Tell You About Capitalism (don't dismiss it as an anti-capitalist treatise, it's not) are also good, lighter weight (unlike Hill & Myatt no maths) but give an overview of the different schools of economics and what can be drawn…
on “Ask HN: What are you reading to make sense of the economy?” ↗Buy a cheap, used macro/micro book (Krugman or similar) Buy and read,23 Things They Don't Tell You About Capitalism, by Ha-Joon Chang. All his books are recommended for a reasonable criticism of mainstream economics.
on “Four Basic Truths of Macroeconomics” ↗I am not terribly taken by the book as a whole, but you would probably profit from reading the first chapters of "23 things they don't tell you about capitalism" [0]. [0] you can find an epub with a simple google search, or listen to this talk by the author, who unfortunately has a thick korean accent: http://youtu.be/whVf5tuVbus?#t=4m Edit: correction
on “Silk Road 2.0: A concept of a distributed anonymous marketplace” ↗I recommend the book "23 things they don't tell you about capitalism" which looks at how tariffs protect local economies. When economic networks flatten, single entities dominate.
on “How the Jeans Capital of the World Moved from Texas to China” ↗Most of what common people hear of economics is just partisan political talking points. May i reccomend "23 Things They Don't Tell You About Capitalism" - its written by a real economist.
…stock market does that. It simply doesn't and history is proof. It's also a fact that free market capitalism has consistently done worse than before based on actual numbers. I highly suggest you read 23 things they don't tell you about capitalism. It goes into a lot more detail and helps you understand things in a broader perspective. If we want to improve our world we need to move past the faults of the current capitalist system and the soviet…
on “Microsoft has a problem: lack of demand for its AI products” ↗…roles in culture and democratic institutions.) Such viewpoints often come from the right, though may also be found among more liberal economists. One such, Ha-Joon Chang addresses this in chapter 17 of 23 Things They Don't Tell You About Capitalism, "More education itself is not going to make a country richer" (2010). Dr. Ha-Joon notes that: 1. Many poor countries have high educational attainment. 2. Many rich countries have comparatively low…
on “Adult Literacy in the United States (2019)” ↗I've just been reading the book "23 Things They Don't Tell You About Capitalism" by Ha-Joon Chong and one thing that I can bring to the table from that book is the notion of Immigration Control (in chapter 3) as the single most influential factor in holding wages up in countries.…
on “Why designers need to stop moaning about 99designs.com” ↗Did you mean 23 Things They Don't Tell You About Capitalism by Ha-Joon Chang? That's what I find searching for your title. http://www.amazon.com/Things-They-Dont-About-Capitalism/dp/1...
on “Have You Ever Tried to Sell a Diamond? (1982)” ↗…studied under a prominent Marxist scholar though I'm not sure he's classified as same himself. https://en.wikipedia.org/wiki/Ha-Joon_Chang His books include Bad Samatarians (which cma mentioned) and 23 Things They Don't Tell You About Capitalism. He has a few online articles and videos on YouTube.
on “Economics Simulation” ↗23 things they don't tell you about capitalism http://www.amazon.com/gp/product/1608193381
on “U.S. blocks Philips' $3.3B sale of Lumileds to Asian buyers” ↗