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23 Things They Don't Tell You About Capitalism Paperback – 7 October 2011

by Ha-Joon Chang (Author)
4.5 out of 5 stars 1,741 ratings
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'A masterful debunking of some of the myths of capitalism ... Witty, iconoclastic and uncommonly commonsensical ... this book will be invaluable' Observer

In 23 Things They Don't Tell You About Capitalism one of today's most iconoclastic thinkers destroys the biggest myths about the world we live in.
There's no such thing as a 'free' market
Globalization isn't making the world richer
We don't live in a digital world - the washing machine has changed lives more than the internet
Poor countries are more entrepreneurial than rich ones
Higher paid managers don't produce better results
This galvanizing, fact-packed book about money, equality, freedom and greed proves that the free market isn't just bad for people - it's an inefficient way of running economies too. Here Chang lays out the alternatives, and shows there's a better way.
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  1. Print length
    304 pages
  2. Language
    English
  3. Publisher
    Penguin Press
  4. Publication date
    7 October 2011
  5. Dimensions
    13 x 1.7 x 19.8 cm
  6. ISBN-10
    0141047976
  7. ISBN-13
    978-0141047973
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  1. Recognizing that the boundaries of the market are ambiguous and cannot be determined in an objective way lets us realize that economics is not a science like physics or chemistry, but a political exercise.
    Highlighted by 769 Kindle readers
  2. The wage gaps between rich and poor countries exist not mainly because of differences in individual productivity but mainly because of immigration control.
    Highlighted by 749 Kindle readers
  3. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them.
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Review

A masterful debunking of some of the myths of capitalism ... Witty, iconoclastic and uncommonly commonsensical ... this book will be invaluable ― Observer

Important .. persuasive . [an] engaging case for a more cautious and caring era of globalisation ― Financial Times

Myth-busting and nicely-written . the best economists are those who look around at our man-made world and ask themselves "why?". Chang is one ― Independent

In 23 lucid, sometimes breezily didactic chapters, Chang takes apart the stricken ideology of neoliberalism. Chang's method is not to engage with the neoliberals but to knock them down with assertions. -- Paul Mason, Economics Editor, BBC Newsnight ― Guardian

Ha-Joon Chang is a formidable critic...and a true exponent of the art of political economy -- Michael Lind ― Prospect

Chang's...iconoclastic attitude has won him fans such as Bob Geldof and Noam Chomsky. -- Rachel Shields ― The Independent on Sunday

For anyone who wants to understand capitalism not as economists or politicians have pictured it, but as it actually operates, this book will be invaluable. -- John Gray ― Observer

About the Author

Born in South Korea, No 1 International Bestselling Author Ha-Joon Chang is a specialist in development economics and Reader in the Political Economy of Development at the University of Cambridge. In 2005, Chang was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought. He is author of Kicking Away the Ladder- Development Strategy in Historical Perspective (2002), which won the 2003 Gunnar Myrdal Prize, and Bad Samaritans- Rich Nations, Poor Policies and the Threat to the Developing World (2007). Since the beginning of the 2008 economic crisis, he has been a regular contributor to the Guardian, and a vocal critic of the failures of our economic system.

Product details

  • Publisher ‏ : ‎ Penguin Press
  • Publication date ‏ : ‎ 7 October 2011
  • Edition ‏ : ‎ 1st
  • Language ‏ : ‎ English
  • Print length ‏ : ‎ 304 pages
  • ISBN-10 ‏ : ‎ 0141047976
  • ISBN-13 ‏ : ‎ 978-0141047973
  • Item weight ‏ : ‎ 227 g
  • Dimensions ‏ : ‎ 13 x 1.7 x 19.8 cm
  • Customer Reviews:
    4.5 out of 5 stars 1,741 ratings

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Ha-Joon Chang

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Top reviews from Australia

  • Ms Henry
    5.0 out of 5 stars That explains everything
    Reviewed in Australia on 22 August 2020
    Verified Purchase
    Almost everything. All the most important contradictions about free market capitalism and ways we could be doing things much better. We don't have to change things a whole lot and we don't need to go without in order for everyone on earth to be that much better off.

    An accessible, easily understandable read by a guy who really knows what he's talking about. Recommend it for everyone.

    Thankyou Mr. Chang for spelling it out for us so clearly.
    One person found this helpful
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  • Tracesprite
    5.0 out of 5 stars Funny, fascinating
    Reviewed in Australia on 25 October 2015
    Format: KindleVerified Purchase
    Funny, fascinating, easy to understand, surprising - this book opens your eyes. It's not saying that capitalism is bad and communism is good. It's saying that capitalism could be way better than it is and it explains the problems with how the business world works.
    One person found this helpful
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  • kehl-002
    5.0 out of 5 stars Masterpiece by a Korean Economist to be Shared and Appreciated by Us All
    Reviewed in Japan on 3 May 2013
    Verified Purchase
    Well-conceived from the viewpoint of welfare economics. The author shows a marvelous sense of balance and a convincing manner of discussing what has been wrong with the globalism (i.e. goverments across the globe under the neoliberal regime of political economy). Maybe, his ideas will serve those pacifists (like Jesus, Mencius or Lao-tze?) who prefer the world to be a more harmonious and happier place to live in.
    Report
  • SHI
    5.0 out of 5 stars Book of value, pleasure of reading
    Reviewed in France on 11 September 2015
    Format: PaperbackVerified Purchase
    This book suggested some in-depth analysis while challenging common thinking. I personally appreciated much the engagement of Prof. Ha-Joon Chang as "active economic citizens". For a book of economics, it is written with heard.
    Far from offering rigid theories, the book gave many everyday life examples which curved a “real world” quite different from certain empirical models that lots of economics books illustrate. The points of view that this book suggested helped me to build a capacity to understand and even evaluate those big political / economic decisions made by our governments, although in a very modest level.
    I also find this book easily accessible. Each chapter containing only a few pages made reading more easily than reading a heavy traditional economics book. Since it is very well written and articulated, the reading is a pleasure; sometimes I did not feel the time pass.
    I strongly recommend this book.
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  • NinjaReader
    5.0 out of 5 stars Excellent book
    Reviewed in Brazil on 1 December 2017
    Format: KindleVerified Purchase
    Chang demystifies lots of market fundamentalists tenets, which downplay the role of societal institutions and government in economic development.
    Markets are surely the engine of growth and prosperity but they need society and government, and society working through the government to raise educational levels, combat illiteracy, provide a safety net for the weak and protect private property and human rights.
    South Korea is nothing but a miracle. With the strong and friendly hand of the United States, as well of their own government, the country abandoned rock-bottom misery and entered the wealthiest nations club.
    Today South Korea displays high technology manufacturing and industry and also has become a more open country, both in terms of economic and civil freedoms.
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  • Teodosio
    5.0 out of 5 stars Sencillamente genial
    Reviewed in Spain on 20 October 2011
    Format: PaperbackVerified Purchase
    El autor, Ha-Joon Chang, capitalista convencido, desmonta en esta obra maestra los mitos que los fanáticos del libre mercado no se cansan de repetir "ad nauseam". Explica de forma muy amena 23 cosas que no te cuentan del capitalismo, entre las cuales:

    1. El libre mercado no existe

    2. Las políticas de libre mercado no enriquecen a los países pobres

    3. La lavadora cambió el mundo más que internet

    4. Enriquecer aún más a los ricos no enriquece a los demás

    5. La estabilidad macroeconómica no hace el mundo más estable

    6. Pese a la caída del comunismo, aún vivimos en economías planificadas

    7. Los dirigentes de las empresas tienen sobresueldos

    Propone 7 formas de leer el libro adaptadas al lector. Yo recomiendo la séptima (leer todos los capítulos de principio a fin) porque no tiene desperdicio.

    Al final del libro, propone soluciones para la crisis bárbara que estamos sufriendo gracias a las políticas del libre mercado.
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  • mike
    5.0 out of 5 stars inusuale e davvero meritevole
    Reviewed in Italy on 11 February 2023
    Format: KindleVerified Purchase
    Il libro descrive sotto una luce davvero insolita molti dei concetti di economia che solitamente ci vengono presentati solo guardandoli da una certa direzione. Lo considero interessantissimo e tra l'altro utilizza un linguaggio semplice, accessibile a tutti. A mio parere è assolutamente da non perdere. Cinque stelle e lode!
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