Yquotes.com

 

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

 

Ha-Joon Chang

» Ha-Joon Chang - all quotes »

Similar quotes

 

“I have this theory about smart people. If you’re smart, you’re either the only person in your family who’s smart, or everybody in the family is smart. No in-between.”
I considered this. “I think I come from the everybody’s smart category. But they don’t apply their smarts to… larger picture pursuits. That includes me.”

 

Douglas Coupland

 

Their stupidity does not amaze me, its when they're smart that amazes me. It's baffling whenever you find someone who's smart — incredible. Soon you'll have zoos for such things.

 

Frank Zappa

 

Markets have a strong tendency to reinforce the status quo. The free market dictates that countries stick to what they are already good at. Stated bluntly, this means that poor countries are supposed to continue with their current engagement in low-productivity activities. But their engagement in those activities is exactly what makes them poor. If they want to leave poverty behind, they have to defy the market and do the more difficult things that bring them higher incomes—there are no two ways about it.

 

Ha-Joon Chang

 

When you talk about the regulators [going after market manipulation], why not the financial news networks? That's the whole point of this. CNBC could be an incredibly powerful tool of illumination for people that believe that there are two markets. One that has been sold to us as long-term: Put your money in 401Ks, put your money in pensions and just leave it there, don't worry about it, it's all doing fine. And then there's this other market, this real market that's occurring in a back room where giant piles of money are going in and out, and people are trading them, and it's transactional, and it's fast but it's dangerous, it's ethically dubious and it's hurting that long-term market. And so what it feels like—and I'm speaking purely as a layman—it feels like we are capitalizing your adventure by our pension, and our hard-earned—and that it is a game that you know, that you know is going on, but that you go on television as a financial network and pretend isn't happening.

 

Jon Stewart

 

If you can manipulate news, a judge can manipulate the law. A smart lawyer can keep a killer out of jail, a smart accountant can keep a thief from paying taxes, a smart reporter could ruin your reputation — unfairly.

 

Mario Cuomo