Corruption often exists because there are too many market forces, not too few. - Ha-Joon Chang

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Corruption often exists because there are too many market forces, not too few.

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About Ha-Joon Chang

(Hangul: 장하준; hanja: 張夏准; born 7 October 1963) is a South Korean institutional economist specialising in . Currently a reader in the Political Economy of Development at the University of Cambridge, Chang is the author of several widely discussed policy books, most notably Kicking Away the Ladder: Development Strategy in Historical Perspective (2002). In 2013 Prospect magazine ranked Chang as one of the top 20 World Thinkers.

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Additional quotes by Ha-Joon Chang

Ricardo's theory is absolutely right—within its narrow confines. His theory correctly says that, accepting their current levels of technology as given, it is better for countries to specialize in things that they are relatively better at. One cannot argue with that. His theory fails when a country wants to acquire more advanced technologies—that is, when it wants to develop its economy. It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries. Ricardo's theory is, thus seen, for those who accept the status quo but not for those who want to change it.

[W]e have to work to make it what we want. It's not going to automatically happen, but... in an ideal world we want greater social protection, greater recognition of the importance of the care economy... restructuring of our production and supply networks into something more dispersed, resilient and robust, but... whether these things are necessarily going to happen. ...[T]his is my wish list but it's up to all of us, everyone to demand another world and fight for it.

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