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A review by tyworld
23 Things They Don't Tell You about Capitalism by Ha-Joon Chang
3.0
This was an interesting read as I consider my self a layman when it comes to economics and politics. In America, we are deluded into believing that capitalism is what makes us a strong, successful country. The majority of people have a weak understanding of what capitalism is and how we are effected by it. We hear from economists and politicians praising this prevalent economic system and how free markets are the key to success...which is measured in profits.
This books points out:
~ There is no such thing as a free market.
~ Capitalism doesn't pay fairly. People in rich countries are paid more than they should be. The rich are paid well to do the white collar work while the poor are paid poorly to do the hard blue collar work.
~ American CEOs today are paid 10x more than those in the 1960s and 20x more than European and Asian CEOs. And not because they are more skilled, but because they have more political power. They come out ahead because they help make the rules...or undo them.
~ People think and say we all have the same opportunity, but the equality of opportunity is not fair.
~ Pro-rich policies have failed repeatedly. Trickle down economics do not work, they widen the gap between the rich and the poor.
This books points out:
~ There is no such thing as a free market.
~ Capitalism doesn't pay fairly. People in rich countries are paid more than they should be. The rich are paid well to do the white collar work while the poor are paid poorly to do the hard blue collar work.
~ American CEOs today are paid 10x more than those in the 1960s and 20x more than European and Asian CEOs. And not because they are more skilled, but because they have more political power. They come out ahead because they help make the rules...or undo them.
~ People think and say we all have the same opportunity, but the equality of opportunity is not fair.
~ Pro-rich policies have failed repeatedly. Trickle down economics do not work, they widen the gap between the rich and the poor.