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" "Money is a symbol of what others in your society owe you, or your claim on particular amounts of the society's resources.
How money and other financial claims... are created, sold and bought is... . ...[C]laims ...a lot of economics is (or should be) about those.
(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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This means that... there is a general fall in demand, so the level of activities in every sector is lower, but this means that in relative terms, sectors that produce multiple goods are likely to expand, partly because it's easier to maintain the level of production in those sectors, but also because when people do not spend money on these face-to-face services, they will spend money on other things... There's already a sign that the demand for goods... is rising, so... there will be a shift from services to manufacturing and agriculture in the coming years.
[T]hese big shifts ...making people really think about what is more important in our life, and the realization that we are all bound in a common destiny... [T]hese things are going to fundamentally influence the way that we design new society after this crisis. ...[A]t the global level ...this has been... an interesting experience because... you see that... there is no clear relationship between a country's level of income and how they have managed this... [T]he US, the UK, countries that used to lecture other countries on how to run their society, what kind of values they should uphold, how to manage the government... [T]hey have been shown to be in complete disarray. ...[T]his will be an opportunity where... a lot of developing countries' people overcome this inferiority complex that imperialism, colonialism and racism have... ingrained in many peoples' minds over the last few centuries. ...[S]o-called superior societies have seen tens of thousands of deaths... Vietnam, Kerala in India, Ethiopia... countries... very very poor, or other societies... have managed to contain this disease. ...[T]his is going to change the way developing country people perceive the so-called advanced countries. What are so advanced about them... when they are willing to... let tens of thousands of people die so that... puffs can make more money.