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This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading. Currently can only be used by a single user (myself), but I plan to extend it to support multiple users eventually.

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23 Things They Don't Tell You About Capitalism
by Ha-Joon Chang
May 8, 2017 - May 12, 2017

Done

Chang, H. (2011). 23 Things They Don't Tell You About Capitalism. Bloomsbury Press.


Bloomsbury Press, 2011. 286 pages.

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banq
Tobin tax »
a proposed tax on international financial transactions, e...
brownfield investment »
an acquisition of existing firms by a foreign firm; contr...
Rentenmark »
a currency issued on 15 October 1923 to stop the hyperinf...
shareholder value »
a concept popularized by Jack Welch in a speech in 1981; ...
not an anti-capitalist manifesto
This book is not an anti-capitalist manifesto. Being crit...
the knowledge economy
But we are material beings and cannot live on ideas, howe...
sub-optimal results in neo-classical economics
Even within the dominant school of economics, that is, th...
the economics of Herbert Simon
The economics of Herbert Simon and his followers has real...
how to rein in finance
Thus, exactly because finance is efficient at responding ...

1

Thing 1
There is no such thing as a free market

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1

Thing 1
There is no such thing as a free market

0 / 4
11

Thing 2
Companies should not be run in the interest of their owners

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11

Thing 2
Companies should not be run in the interest of their owners

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23

Thing 3
Most people in rich countries are paid more than they should be

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23

Thing 3
Most people in rich countries are paid more than they should be

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31

Thing 4
The washing machine has changed the world more than the internet has

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31

Thing 4
The washing machine has changed the world more than the internet has

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41

Thing 5
Assume the worst about people and you get the worst

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41

Thing 5
Assume the worst about people and you get the worst

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51

Thing 6
Greater macroeconomic stability has not made the world economy more stable.

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51

Thing 6
Greater macroeconomic stability has not made the world economy more stable.

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62

Thing 7
Free-market policies rarely make poor countries rich

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62

Thing 7
Free-market policies rarely make poor countries rich

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74

Thing 8
Capital has a nationality

1 / 0
74

Thing 8
Capital has a nationality

1 / 0
88

Thing 9
We do not live in a post-industrial age

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88

Thing 9
We do not live in a post-industrial age

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102

Thing 10
The US does not have the highest living standard in the world

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102

Thing 10
The US does not have the highest living standard in the world

0 / 0
112

Thing 11
Africa is not destined for underdevelopment

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112

Thing 11
Africa is not destined for underdevelopment

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125

Thing 12
Governments can pick winners

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125

Thing 12
Governments can pick winners

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137

Thing 13
Making rich people richer doesn't make the rest of us richer

it only works under certain conditions: if they're forced to actually invest in productive things (through policy measures) and then share the fruits of such growth through a strong welfare state (or other such mechanism)

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137

Thing 13
Making rich people richer doesn't make the rest of us richer

it only works under certain conditions: if they're forced to actually invest in productive things (through policy measures) and then share the fruits of such growth through a strong welfare state (or other such mechanism)

0 / 2
148

Thing 14
US managers are over-priced

part of the reason behind high executive paychecks is the power this class commands--often, they sit on other companies' boards and thus have no reason to question rising paychecks as a whole (p155). plus, as a class, they have enormous political power, even for supposedly leftist parties like the Democratic Party

0 / 0
148

Thing 14
US managers are over-priced

part of the reason behind high executive paychecks is the power this class commands--often, they sit on other companies' boards and thus have no reason to question rising paychecks as a whole (p155). plus, as a class, they have enormous political power, even for supposedly leftist parties like the Democratic Party

0 / 0
157

Thing 15
People in poor countries are more entrepreneurial than people in rich countries

0 / 2
157

Thing 15
People in poor countries are more entrepreneurial than people in rich countries

0 / 2
168

Thing 16
We are not smart enough to leave things to the market

0 / 0
168

Thing 16
We are not smart enough to leave things to the market

0 / 0
178

Thing 17
More education in itself is not going to make a country richer

0 / 1
178

Thing 17
More education in itself is not going to make a country richer

0 / 1
190

Thing 18
What is good for General Motors is not necessarily good for the United States

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190

Thing 18
What is good for General Motors is not necessarily good for the United States

0 / 3
199

Thing 19
Despite the fall of communism, we are still living in planned economies

obviously economies are still planned--the difficulty is planning the right things, at the right levels (p.200)

0 / 1
199

Thing 19
Despite the fall of communism, we are still living in planned economies

obviously economies are still planned--the difficulty is planning the right things, at the right levels (p.200)

0 / 1
210

Thing 20
Equality of opportunity may not be fair

0 / 2
210

Thing 20
Equality of opportunity may not be fair

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221

Thing 21
Big government makes people more open to change

0 / 0
221

Thing 21
Big government makes people more open to change

0 / 0
231

Thing 22
Financial markets need to become less, not more, efficient

1 / 1
231

Thing 22
Financial markets need to become less, not more, efficient

1 / 1
242

Thing 23
Good economic policy does not require good economists

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242

Thing 23
Good economic policy does not require good economists

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252

Conclusion: How to rebuild the world economy

there is nothing "natural" about the situation we are in now (post-2008 financial crisis)--we need to understand how we got here and stop voting for neoliberal policies that will only hurt us in the end (in a nutshell)

0 / 1
252

Conclusion: How to rebuild the world economy

there is nothing "natural" about the situation we are in now (post-2008 financial crisis)--we need to understand how we got here and stop voting for neoliberal policies that will only hurt us in the end (in a nutshell)

0 / 1
264
0 / 0
264