[Good managers] know that people have 'good' sides and 'bad' sides and that the secret of good management is in magnifying the former and toning down the latter.
Ha-Joon ChangEquality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.
Ha-Joon ChangThe danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European democracies - not just directly by threatening the livelihoods of so many people and pushing the economy into a downward spiral, but also indirectly by undermining the legitimacy of the political system through this backdoor rewriting of the social contract.
Ha-Joon ChangIf we are really serious about preventing another crisis like the 2008 meltdown we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run. This is what we do all the time with other products-drugs, cars, electrical products and many others.
Ha-Joon Chang