Corruption exists because there is too much, not too little, market. - Ha-Joon Chang

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Corruption exists because there is too much, not too little, market.

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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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The standard Neoclassical definition of economics... is... by Lionel Robbins... 'the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses'... [is] by... theoretical approach rather than... subject matter... a study of rational choice... deliberate, systematic ... The subject of the calculation can be anything...

So... even a relatively poor country can make this as an opportunity to upgrade its economy... I know that [in] the current situation [it] is... difficult to think about the future but... they really need to think... If you have been reliant on tourism heavily... If you're a island state there might be very little you can do but if you are some country... you will have to a) think about ways to make tourism safer... but b) more importantly you need to find a way to get out of tourism and start doing something else.

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[W]e will need to rethink our priorities... not just at the individual level, but at the social level... In Britain we had these weird Thursday evenings... when we clapped for the NHS workers while the government was not willing to pay even a single more penny to them. That kind of thing has to change... We need to have the confidence to say that "Yes, there are things that are more fundamental, that are more important, that are not necessarily going to be rewarded by the market, and... the society has to find a way to make... [those] people... more rewarded, including... people who do unpaid care work at home." We need to rethink the ... [A] lot of scientists say... [as] an inevitable consequence of human encroachment in nature, we need to rethink our balance with nature, part of which is... that due to the unequal nature of many of our societies... There are a lot of countries where you have these farmers doing... and... encroaching into nature when there are fallow lands that are owned by s. So we need to rethink all these priorities...

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