Dr Ha-Joon Chang | Full Address and Q&A | Oxford Union

He is one of the greatest economist alive

I love how he speaks english. He says yea the way people who speak spanish do. Feel cool to recognize these linguistic commonalities 😊

What a great timing, today I've just started reading his 23 Things They Don't Tell You About Capitalism. 😄

Thanks! Sir

A comment regarding the situation in South Africa. One of the tragedies of the South African experience is that despite all that was unjust in the country for so long, the government had introduced enlightened thinking regarding the taxation of property. Johannesburg and some other cities exempted property improvements from the tax base and relied on land values as the basis for public revenue. This arrangement has been eroded, exposing these cities to the same credit-fueled, speculation driven land market dynamics at plague so many other cities around the globe.

Your are such a great human being your are a tremendous blessing. You back up the logical ideas I have accepted my whole life. I am African American and felt respected and honored by you. I make 6 figures and work in Medicare insurance sales. I try to help all races get up to speed so they make informed decisions.

VISUALLY IMPAIRED, SO I listen on audio books. Excellent!!

Goodness me. So many interesting topics discussed by Prof. Dr Ha-Joon Chang. 👇 At 49:30 --"[Mainstream] economics has become like Catholic theology in medieval Europe. It has become the language of the rulers [...] They are not going to let you 'speak' it... unless you belong to the priesthood... or are from an extremely privileged background

Students at Oxford who attended this lecture would gain significant insight into the origins of inequality and how to peacefully bring the condition to an end by reading the analysis of the 19th century Scottish writer Patrick Edward Dove. His book, "The Theory of Human Progression" shows him to be a profound thinker on the moral issues.

I 100% agree, but I like to put a different emphasis on it, one which I think is more compelling in it's urgency: Chang says the rules are "universal, but not fair", which seems like a contradiction (if you are elite). The implication, which I think he and the elite rich would all agree is true (on average) is: rich people are better. It's unfair because the rich college applicants are better! I'll say it again: the applicant that had private tutors and involved parents and went to Honduras and Paris and plays the violin is actually smarter, more skilled, and a BETTER BET for a college than the one who clerked for her parents every day, a repetitive job that, as Adam Smith would say, "will make a person as dumb as a person can be" (one reason why Adam Smith was NOT pro-capitalism, by the way). As a private tutor, I know this acutely. So THAT is what we are up against. That is why drastic, affirmative, remedial and redistributive action is necessary: not because talented poor kids are being left behind (well not just because), but because all poorer kids are literally being made unnecessarily dumber, sicker, and lesser in so many ways by their lack of access to money and education

Equality is an inherent nature of human being. Most experimental researches concerning ultimatum games found that the actual results differ from SPN Equilibrium which predicted by strongly rational assumption.

He is very sharp 🪒... Brilliant... Tha black movement....

Does anyone know the host's name?

49:49 - 52:20

It is the extremes, we should avoid. It was done very successfully in FDR's 4 terms. ;)

What if you could choose what economic system you wanted to live under? Like, for instance, I'm a socialist living in America. Wealth doesn't interest me. I want to have my material needs met, I want to be "secure," but I have absolutely no interest in being a millionaire, let alone billionaire. All the time people here tell me: "If you don't like it here, go live somewhere else!" Honestly, I'd like to. I'd like if myself and my fellow American socialists could form our own independent socialist democracy. Maybe that's what doomed the Soviet Union: not every Russian agreed with the Soviet socialist system, but dissent was not tolerated, much like the dissent of socialists is not tolerated in the US. Basically, we are all forced to live under the economic system we live under. For some that's not a problem, but for some it is. People should be allowed to form societies based on common beliefs and values, not just on shared nationality, which is, of course, arbitrary.

Welfare should just have a GDP/population assets test with deeming accommodation share regardless of ownership at 10% valuation; to pay welfare to working asset poor to enable work. Not housing required, waited for, time limited, unemployed, disabled or aged welfare; that paid asset rich loafers not to work only.

Very interesting, simple tools could get rural people to produce food ,hand plowing ,seeding tools etc. This could teach people how to think simple engineering skills,people would stop coming to city's to find jobs,staying poor. Just a thought.

What is the problem with some getting richer, if none are getting poorer

We can't map the world onto a postage stamp without losing details.