About "Catch & Research"

Welcome. I found my passion in ecological economics and fishing. They are all about pursuit of unknown and uncertain objects. I always enjoy the seemingly reckless pursuit itself. This blog is a record of my long journey in research and fishing. Your comments are welcome and appreciated.

Thursday, September 30, 2010

23 Things They Don't Tell You About Capitalism

Prof. Ha-Joon Chang talks about his new book, 23 Things They Don't Tell You About Capitalism. In this short presentation, he mentions very interesting things about economics nowadays.
Many academic economists today are not even interested in the real world. Actually, in deed, economic professions today (think) interest in the real world is the indirect admission that you are not very good. If you are very smart, you do really abstract mathematical modeling. If you are less good, you do econometrics, basically, manipulating statistics. If you are really down in the pits (???), then you are interested in the real world. That is a strange academic culture. (24:17-)
Well, according to him, I am clearly a third grade economist, and I am proud of that. It is worth-to-watch 30 minute presentation. I will definitely buy the book.

1 comment:

Shalom Patrick Hamou said...

An Innovative Credit Free, Free Market Economic Ideology.

Our Economy is in Shamble

The consequences, the Great Depression and history tells us, will necessarily be a Formidable Chaos:

Social and political turmoils, and military adventures.

Neither supranational bodies nor governments can propose a plausible solution;

What is Politically Correct is both Mathematically and Morally Wrong!


- Do you feel that your ideology pushed you to make decisions that you wish you had not made?

- Well, remember that what an ideology is, is a conceptual framework with the way people deal with reality. Everyone has one. You have to -- to exist, you need an ideology. The question is whether it is accurate or not. And what I'm saying to you is, yes, I found a flaw. I don't know how significant or permanent it is, but I've been very distressed by that fact.

- You found a flaw in the reality...(!!!???)

- Flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak.

- In other words, you found that your view of the world, your ideology, was not right, it was not working?

- That is -- precisely. No, that's precisely the reason I was shocked, because I had been going for 40 years or more with very considerable evidence that it was working exceptionally well.

It is our responsability to create a meaningful increment of jobs, revenues and investments:

We urgently need the only plausible solution that is offered to us:

An Innovative Credit Free, Free Market Economic Ideology.

It is your duty to insure your own security and economic survival, no one else will do that for you!

History teaches us that men and nations behave wisely once they have exhausted all other alternatives.


Credit Free Economy
More Jobs, No Debt, No Fear.
Prosperous, Fair and Stable.