Economics: The User's Guide | Ha-Joon Chang | Talks at Google
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- Опубликовано: 28 май 2024
- Cambridge University economist Ha-Joon Chang visited Google's Cambridge, MA office to discuss his new book, "Economics: The User's Guide".
In his bestselling 23 Things They Don't Tell You About Capitalism, Dr. Chang debunked many of the predominant myths of neoclassical economics. Now, in an entertaining and accessible primer, he explains how the global economy actually works-in real-world terms. Writing with irreverent wit, a deep knowledge of history, and a disregard for conventional economic pieties, he offers insights that will never be found in textbooks.
Ha-Joon Chang teaches in the Faculty of Economics at Cambridge University. His books include the international bestseller "Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism", "Kicking Away the Ladder", winner of the 2003 Myrdal Prize, and "23 Things They Don’t Tell You About Capitalism". In 2005, Chang was awarded the Leontief Prize for Advancing the Frontiers of Economic Thought.
Love it! Ha-Joon, Mark Blythe, @profstevekeen, between them maybe we can build an economic plan that makes sense.
On child labor: in fact many of those working children were kidnapped and kept in a condition and status indistinguishable from slavery.
A Paradigm Shifting Talk.
Mr ha Joon Chang speaks of common sense, which we have lost from the over-complication of the theories we learn. Let’s get rid of our ideological biases and focus on real problems guys.
Love his analysis on how political will affects dynamics of perceived value of various work.
The problem with Pareto's idea of when to make a change in law or public policy is that the system of law in place in every society rests on centuries-long entrenched privilege. Just requires and end to privilege, the most serious form of which is landed privilege (i.e., the privatization of rent). As Winston Churchill declared when campaigning for the House of Commons in 1909, the most serious problem in the British Isles was monopoly privilege. He then declared that land monopoly is the "mother of all monopolies."
Thanks for your comments on Pareto's approach . Greetings from the Brazilian rainforest in Manaus !
I had an opportunity to listen again to this talk. The young woman near the end of the Q&A period asked about the one or two issues that people need to understand. I would respond by urging her and other to gain an understanding of the fundamental importance of how property rights to land -- to nature -- as they exist and have existed are THE most important cause of poverty in the world. In 1994 the British economist Fred Harrison collaborated with two U.S. economics professors -- Mason Gaffney and Kris Feder -- on a book titled "The Corruption of Economics." This book provides the details of this story and why economists as a group have failed to see the forest for the trees.
To know how works capitalism you need to know the current monetary weaknesses and problems. It is impossible to return to Gold Standard See this video: ruclips.net/video/iiKr-i022mY/видео.html
@@anabonet533 I agree that adoption of a gold-backed currency system is impractical today. This does not mean that by treaty countries could not come up with a universal system that begins with coinage of a constant silver to coin content. Paper currency could be redeemable in something tangible that has universal demand. A serious proposal by one economist suggested the use of construction bricks, which have all of the positive characteristics precious metals and none of the drawbacks (e.g., such as the need for expensive refining, storage and security measures).
@@nthperson The quantity of money in circulation is very important, is key to maintain a healthy economic system; as Pedro Gómez says, we shouldn't use industrial prices as a tool to equilibrate the market, because it will not avoid treasury collapse. Gold is a shelter-value advisable, but not a backup value of any money, due to the Progressive Growth of the Money Supply. Central Banks should respect that Principle, as the limit or cap to issuance new money, and this quantity will be taken for the payment of public works (bridges, motors-ways, docks, etc.). Following Pedro Gómez's line of thinking, The Work Standard is better than The Gold Standard. So the interest rate should be the natural interest rate or Wicksell. It is quite absurd destroying big nature areas to bury the gold or silver obtained at the bank safety-box.
@@anabonet533 Well, there is Gresham to think about. Bad money will chase good money out of circulation, if one can get people to accept money that is in a constant state of depreciation. I suggest reading what Adam Smith wrote about the founding and operation of the Bank of Amsterdam as a deposit bank. For a time, the bank's receipt money stimulated global international growth without inflation. Sadly, the bank deviated from its founding principles, setting the stage for fractional reserve banking and all that transpired to today.
@@nthperson I know the history of the Bank of Amsterdam, Bank of Hamburg, etc as a deposit bank. I agree to forbid the Fractional Reserve Banking System (FRB), i.e., I agree with Mises, Hayek, Rothbard, Huerta de Soto, etc. But once forbidden the secondary monetary expansion (FRB), how do to coordinate the industrial monetary needs? Well, they are several options, like the Chicago Plan Revised, but after reading Pedro Gomez's book, the best solution is the monetary expansion throughout the Progressive Growth of the Money Supply Principle. This system sets a monetary cap in order to Central Banks and politicians can't issuance money over the quantity indicated mathematically by the own market. I suggest reading The Wealth of Nations in the 21st Century, by Pedro Gomez, which analyze all the options to issuance money, their strengths and weaknesses. A very interesting historical review and, furthermore a new and realistic proposal to issue money, that allows controlling the man in charge of the printer machine. ruclips.net/video/iiKr-i022mY/видео.html
Great book.
darth vader introducing
Very nice. Thanks
Haven't seen the talk yet, but is this new book very different (and thus worth the read) from 23 Things and Bad Samaritans?
loved the talk and I will read his books, but austria has a pop of 8.7 million not 7 (; special greetings (I can't believe my country was even mentioned, most of the time only scandinavian countries or the big ones are mentioned in these contexts ^^
I hear lots of echoes of varoufakis in this.
Jeff Sachs' clinical economics encapsulates pretty much all of this
even though i know he spoke in generalized terms and therefor my reaction is hopefully not seen as defensive, me as a german doesnt think of greeks as lazy people. Rather i think that a post communism strategem took place. Whereby Zbigniew Brzezinski opened up the gates of hell due to publicly telling on c-span in 2000, that the future main adversaries of USA would be EU and China. For the EU he then directed the attention and pointed out Greece, Poland and Portugal as the weakest links within the EU. So when any of those would be taken out of the equation, the EU would be in deep trouble.
When you then look at the transactions of Goldman Sachs shortly afterwards, which may have been the first shark who smelled the blood or a socalled economic hitman, which is debetable as Goldman Sachs is one of the US banks with arguably the most and closest ties to US Government at that time, in any case the initiator for cheap credit to greece, while withholding that information from their side as also due to agreements between Greece and Goldman Sachs, Greece witholding the fact of that credit laon from the EU bodies.
So making my point, the EU member states may have been just plain stupid not to notice what was going on, more likely, they made themselves complicit to these actions as the ties inbetween many of the EU member states and the US are strongly manipulated through many layers of several lobby organisations, by that then i would accuse my own government in germany aswell others in EU to willingly cripple greece to safe a "friendship" with the US, while the US used exactly that sentiment to their benifit to get rid of a possible future rival.
+kinn grimm nice piece of thought, could you share a link of Zbigniew on c-span?
c-span has a good search engine embeded. You may want to start looking at time index 1989 and afterwards though. There are several talks and conferences between 1989 and 1992-94 where thinkers of a wide spectrum came together. There you can f.e. make out the origin for "The Project for a new American Century" which was a major neocon think tank combining several idears first uttered on c-span conferences after the fall of sowjiet russia. The Nato Talks to that topic are also quite enlighting. You can find several talks from Brzezinski there, but if you want it a little more compact he has written a book you may also find somewhere on the internet i am sure of.
Great talk, he is weak on automation destroying jobs, see the leisure society and alvin toffler, it's a paradigm shift,
There are no proof whatsoever that automation is destroying jobs. So far, automation, as little as it might be, didn't decrease any number of jobs in the economy. It's more like people moved on to do other stuff as automation freed them from certain types of menial labour.
The question is whether Automation based on popular technics such as deep learning will decrease the number of jobs? The answer is we don't know yet. We have to see how much of application that corporates can bring to the table.
Dr. Chang needs to practice what he preaches. His view of history around the events he was referring to require scrutiny. Strange how he jammed Israel into the end of the speach and ignored all historical facts surrounding its formation, displacements of original habitants, destruction of property, genocide and theft of land
Capital is absolutely essential for any nation. What would Karl Marx dole out if not capital?
All though his books are interesting, his speeches are a tad boring in the classic economist sort of way.
He's an actively engaged teacher, with curricula and stuff to deal with. "Free" writers probably like to engage the reader and "be fun". I still like his writings, and speeches are like a bonus.
This guy is to be admired. He gave incredible arguments and many good examples.
He's not a native English speaker, so that might be a large part of the problem.
Check out RSA animate on his speech!
To know how works capitalism you need to know the current monetary weaknesses and problems. It is impossible to return to Gold Standard See this video: ruclips.net/video/iiKr-i022mY/видео.html
북한에 가십시오!
The ban on child labor came only because of the high level of income that came from the free market and this happened naturally - try to ban child labor in the CAR
any proofs?
it did not happen naturally. It happened politically. There is nothing "natural" about the "free" market. That's exactly the talk's point. There is nothing natural about the market, its a set of human institutions.
А very dangerous person... half-truth is worse than a lie