Book Review: 23 Things They Don’t Tell You About Capitalism by Ha-Joon Chang

GODS & RADICALS

23 Things They Don’t Tell You About Capitalism by Ha-Joon Chang
My rating: 5 of 5 stars

Capitalism! The American Dream! Except that what we believe about capitalism, and how it actually works, are two different things. We’ve been told that the essence of preserving the economy involves making things better for the wealthy, so that they will make bigger companies and hire more people for more jobs, and thus the crumbs of their good fortune will “trickle down” to the rest of us. Except that it’s not true; wealthy people won’t part with their wealth unless regulations force them to.

We are told that the American Dream rewards the hard-working and the worthy, and that anyone can succeed if they try hard enough. Except that it’s not true; people in poorer countries are more entrepreneurial than people in wealthier countries, and good infrastructure is the key to building the…

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