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23 Things They Don't Tell You About Capitalism

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( 11,921 ratings, 1,123 reviews)
Book Hero Magic crafted this summary to help describe this book. While it's new and still learning, it may not be perfect - your feedback is welcome! Summary
23 Things They Don't Tell You About Capitalism by Ha-Joon Chang demystifies common myths about capitalism, challenging the reader to reconsider widely accepted economic principles. Through 23 thought-provoking points, the book explains how reality often diverges from the textbook version of capitalism, offering a nuanced perspective on global economics.
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Format: Paperback / softback
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?

You might enjoy this book if you are interested in a thought-provoking critique of modern capitalism, where complex economic ideas are broken down in an accessible and engaging manner. This book offers insightful discussions that challenge conventional wisdom, perfect for those curious about alternative economic perspectives.

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23 Things They Don't Tell You About Capitalism

Turns received economic wisdom on its head to show you how the world really works. In this book, the author destroys the biggest myths of our times and shows us an alternative view of the world, including: there's no such thing as a 'free' market Globalization isn't making the world richer; poor countries are more entrepreneurial than rich ones.

Book Hero Magic formatted this description to make it easier to read. While it's new and still learning, it may not be perfect - your feedback is welcome! Description

In 23 Things They Don't Tell You About Capitalism, Ha-Joon Chang, one of today's most provocative and iconoclastic thinkers, dares to dismantle some of the most deeply entrenched myths about capitalism and the global economy. Through a series of engaging, witty, and insightful essays, Chang reveals the stark realities and hidden truths that shape our understanding of economic systems. Rather than adhering to the mainstream dogma, Chang provides a critique of the modern capitalist framework by exposing 23 widely accepted but often flawed ideas about how the world operates.

The book challenges common misconceptions such as the belief in the free market as an objective and natural phenomenon. Chang argues that there is no such thing as a ‘free’ market, as all markets operate under rules and regulations set by the government or other powerful entities. He also rebuffs the notion that globalization is universally beneficial, pointing out that it has frequently exacerbated inequality rather than alleviated it.

Another eye-opening argument made by Chang is that we do not truly live in a digital age, asserting that innovations such as the washing machine have had a more transformative impact on the daily lives of people than the internet has. By examining historical and present-day examples, he stresses how advancements in simple technology have shaped our world significantly.

Chang also turns his scrutiny towards managerial practices, debunking the myth that higher-paid managers necessarily produce better results. Contrary to popular belief, he finds that lavish executive compensation often fails to correlate with superior company performance.

This galvanizing, fact-packed book does not merely critique capitalism; it also paves the way for reconsidering alternative economic models. Chang suggests that poorer countries may actually be more entrepreneurial than their wealthier counterparts, driven by necessity and ingenuity. He argues that the currently dominant free-market approach is not just harmful to people and communities, but is also a fundamentally inefficient way to run economies.

Through meticulous research and clear, accessible writing, 23 Things They Don't Tell You About Capitalism offers readers a fresh perspective on issues such as money, equality, freedom, and greed. Chang's invaluable insights and thought-provoking analysis compel readers to question the status quo and envision a more equitable and efficient economic system.

Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?

Reviews describe 23 Things They Don't Tell You About Capitalism as a masterful debunking of capitalism's myths, blending wit and common sense. Observers find it important and persuasive, making a compelling case for reevaluating globalisation. Praised for myth-busting and clear writing, Ha-Joon Chang challenges neoliberalism with assertive critiques, earning admiration for his political economy insights.

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Book Details

INFORMATION

ISBN: 9780141047973

Publisher: Penguin Books Ltd

Format: Paperback / softback

Date Published: 01 September 2011

Country: United Kingdom

Imprint: Penguin Books Ltd

Audience: General / adult

DIMENSIONS

Spine width: 17.0mm

Width: 129.0mm

Height: 198.0mm

Weight: 224g

Pages: 304

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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.

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