The danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European d… - Ha-Joon Chang
" "The danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European democracies – not just directly by threatening the livelihoods of so many people and pushing the economy into a downward spiral, but also indirectly by undermining the legitimacy of the through this backdoor rewriting of the social contract.
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.
Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.
Additional quotes by Ha-Joon Chang
I have a six-year-old son. His name is Jin-Gyu. He lives off me, yet he is quite capable of making a living. I pay for his lodging, food, education and health care. But millions of children of his age already have jobs. Daniel Defoe, in the 18th century, thought that children could earn a living from the age of four.
Moreover, working might do Jin-Gyu's character a world of good. Right now he lives in an economic bubble with no sense of the value of money. He has zero appreciation of the efforts his mother and I make on his behalf, subsidizing his idle existence and cocooning him from harsh reality. He is over-protected and needs to be exposed to competition, so that he can become a more productive person. Thinking about it, the more competition he is exposed to and the sooner this is done, the better it will be for his future development. It will whip him into a mentality that is ready for hard work. I should make him quit school and get a job. Perhaps I could move to a country where child labour is still tolerated, if not legal, to give him more choice in employment.
[T]his crisis... has affected the way we produce things... [F]ace-to-face services have been devastated, restaurants, theaters, international tourism, things that require close proximity of the provider and the customer, has been hit very hard... Different societies are trying to deal with this in different ways... [Y]ou see these pictures of Asian restaurants that have... put the tapes on the tables... shields, [etc.]... [T]hese services will not recover the previous levels any time soon.