Ha-Joon Chang Books
Ha-Joon Chang is a South Korean economist and author known for his critical perspectives on neoliberal economics and globalization. He teaches economics at the University of Cambridge and has written several influential books, including 'Bad Samaritans' and 'Economics: The User’s Guide'.
Known for: 23 Things They Don’t Tell You About Capitalism
Books by Ha-Joon Chang
23 Things They Don’t Tell You About Capitalism
What if the economic “common sense” you hear every day is not neutral truth, but a set of stories designed to make one version of capitalism look inevitable? In 23 Things They Don’t Tell You About Capitalism, Ha-Joon Chang dismantles many of the most familiar claims about markets, globalization, corporations, wealth, and government. He argues that markets are never truly free, that business success depends on institutions and public support, and that rich nations often became rich through policies they now discourage poorer nations from using. Rather than rejecting capitalism outright, Chang asks readers to see it more honestly: as a political and social system shaped by law, power, history, and choices. The book matters because it gives non-specialists a way to think critically about economic debates that affect wages, jobs, inequality, development, and democracy. Chang writes with unusual clarity, using historical examples, everyday logic, and sharp comparisons instead of technical jargon. A Cambridge economist known for challenging neoliberal orthodoxy, he brings academic authority together with a public-minded style that makes complex ideas accessible. The result is a provocative guide to understanding how capitalism actually works—and how it could work better.
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Markets Are Made, Not Natural
A market is never simply “there”; it is designed, protected, and limited by rules. One of Chang’s most important insights is that the so-called free market is a political construction. Every market depends on laws about property, contracts, bankruptcy, labor conditions, safety, pollution, intellectu...
From 23 Things They Don’t Tell You About Capitalism
Shareholder Value Is a Dangerous Myth
When companies focus only on maximizing shareholder returns, they often weaken the very foundations of long-term prosperity. Chang challenges the dominant doctrine that corporations exist primarily to serve their owners. In practice, businesses depend on workers, suppliers, customers, communities, p...
From 23 Things They Don’t Tell You About Capitalism
High Pay Reflects Systems, Not Merit
People in rich countries often believe their incomes mainly reflect superior individual productivity, but Chang argues that this is only a partial truth. Wages are shaped not just by talent or effort, but by institutions, bargaining power, immigration rules, education systems, and the historical adv...
From 23 Things They Don’t Tell You About Capitalism
Technology Alone Does Not Define Progress
Some inventions transform societies not because they are glamorous, but because they reorganize daily life at scale. Chang famously argues that the washing machine changed the world more than the internet, at least in one crucial sense: it dramatically reduced the time spent on unpaid domestic labor...
From 23 Things They Don’t Tell You About Capitalism
Economic Behavior Depends on Institutions
If you assume people are selfish and design systems around that assumption, you often encourage more selfish behavior. Chang challenges the narrow economic view that humans are motivated mainly by financial incentives and must be disciplined by competition. In reality, trust, reciprocity, profession...
From 23 Things They Don’t Tell You About Capitalism
Stability Can Hide Deeper Fragility
Periods of low inflation and calm financial indicators can create the illusion that an economy is safer, even when dangerous imbalances are building underneath. Chang argues that the preoccupation with macroeconomic stability—especially inflation control, balanced budgets, and central bank credibili...
From 23 Things They Don’t Tell You About Capitalism
About Ha-Joon Chang
Ha-Joon Chang is a South Korean economist and author known for his critical perspectives on neoliberal economics and globalization. He teaches economics at the University of Cambridge and has written several influential books, including 'Bad Samaritans' and 'Economics: The User’s Guide'. His work em...
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Ha-Joon Chang is a South Korean economist and author known for his critical perspectives on neoliberal economics and globalization. He teaches economics at the University of Cambridge and has written several influential books, including 'Bad Samaritans' and 'Economics: The User’s Guide'. His work em...
Ha-Joon Chang is a South Korean economist and author known for his critical perspectives on neoliberal economics and globalization. He teaches economics at the University of Cambridge and has written several influential books, including 'Bad Samaritans' and 'Economics: The User’s Guide'. His work emphasizes the role of institutions, history, and policy in shaping economic development.
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Ha-Joon Chang is a South Korean economist and author known for his critical perspectives on neoliberal economics and globalization. He teaches economics at the University of Cambridge and has written several influential books, including 'Bad Samaritans' and 'Economics: The User’s Guide'.
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