5 Best Ha‑Joon Chang Quotes

“There is no such thing as a free market.”

This is the title of the first 'thing' and a foundational argument, challenging the idea of markets existing outside of political and regulatory frameworks.

“The washing machine has changed the world more than the internet has.”

This provocative statement highlights the often-overlooked, profound social and economic impact of 'old' technologies compared to more celebrated recent innovations.

“Assume the worst about people, and you get the worst.”

Chang critiques the free-market assumption that individuals are purely self-interested and rational, arguing that such a view can lead to policies that undermine cooperation and trust, ultimately fostering the very behavior it assumes.

“Making rich people richer doesn’t make the rest of us richer.”

This directly challenges the 'trickle-down' economic theory, arguing that wealth concentration at the top does not automatically benefit the broader population.

“We are not smart enough to leave things to the market.”

Chang argues against the efficient market hypothesis, asserting that human rationality is limited and markets are prone to irrationality, necessitating intelligent regulation and intervention.