The free market doesn't exist. Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them.
Ha-Joon ChangTo paraphrase Winston Churchill, capitalism is the worst economic system except for all the other forms.
Ha-Joon ChangOnce you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rick as what they are -- a simple upward redistribution of income, rather than a way to make all of us richer, as we were told.
Ha-Joon Chang