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.