these videos are really interesting weird they don't get more views.

@foggymedia

4 жыл бұрын

The MSM and the masses are like deer in head lights when clear explanations are presented. They're at a loss of what to do.

@MarkoKraguljac

4 жыл бұрын

@James That's in part because they either drop videos too far apart or dump 20 at the time.

@ZardoDhieldor

4 жыл бұрын

I assume that they are not very well marketed. I only found this channel by searching KZread for a guy I knew and finding an interview of him here. It's a pity! So many people could profit from watching these!

@captainmohadeb

4 жыл бұрын

So true.

@Killinemkid

4 жыл бұрын

@@foggymedia right, because it's accidental

This is an amazing lecture; Ha-Joon Chang gives very clear and fascinating examples. Thanks for sharing.

When I give food to the poor, they call me a saint. When I ask why they are poor, they call me a communist.", is just the best quote. I heard him speak in Adelaide, tough but he showed great love. That's how social justice was use to be called, now it's neo liberials identity politics.

@dickhamilton3517

3 жыл бұрын

you another idiot who thinks neoliberals are on the left? read a book, ffs. The quote is great, btw. You should not have added to it.

@isidoreaerys8745

3 жыл бұрын

To be fair he said “neo liberials” So it’s possible he could be trying to imply a distinction between classical Liberals Thatcherite neoliberals And today’s socially progressive but economically center right liberals.

@elmersbalm5219

2 жыл бұрын

@@isidoreaerys8745 one quibble: liberals were never socially progressive towards the poor. They only cared about the rights and privileges of their class. Many owned slaves as property.

@isidoreaerys8745

2 жыл бұрын

@@elmersbalm5219 facts

@dharmpalsingh8225

Жыл бұрын

@@isidoreaerys8745 qxxqxq xx xx xx w

I find it quite remarkable that anybody needs to even explain it.

@LoveRonnelid

4 жыл бұрын

That is in itself an important question. What is it that "economics" does to people?

@dickhamilton3517

3 жыл бұрын

@@LoveRonnelid the clever ones, who like to imagine themselves the 'intellectuals', are all enthusiastic, fired up with the "beauty and truth" of false, invalid, dangerous and harmful ideas, mere assertions without proof, given gloss by the approval of those who benefit.The rest just suffer the consequences. Many die.

@antrim7008

3 жыл бұрын

@@dickhamilton3517 Look up Praxeology. My economics professor was enamoured of this “philosophy” that anyone who took an introduction course in philosophy could poke holes in. Libertarians and the proponents of Austrian School theories in particular are some of the most misanthropic individuals I’ve ever met, even contemporary bourgeois economists think they’re insane.

What a thinker and teacher. The power to make people think is so powerful. So many people believe our economic system is the right system, even though it’ s so clearly reaching it’s limits with declining health and increasing obesity, climate change etc. Yet we believe more of the same is the cure because that’s what we’ve been taught by our teachers, economists, politicians and the media.

9:08 Utilitarianism explained in heart-wrenching way😢

33:39 - We think a market is free only because we so totally accept the underlying political & even ethical assumptions that create this body of regulations that define that market that we stop seeing that body of regulations

3:24 "Economically powerful people can and have influenced economic research through funding. There are many pro free market think tanks like IEA or the Heritage Foundation, Kato Institute in US, that have been funded by rich people to generate research to justify a free market approach." A very important point that should be more diffused in common sense and general education. I'm guessing if Chang had discussed it in the video it would surely be edited out, but the very institute that has paid him and is hosting this content (Institute for New Economic Thinking) is also a think tank funded by rich people. A deeper more complex dialogue should be had about why has George Soros (according to the institute's own website) donated 50 million dollars to kickstart an institute which presents ideas and thinkers that oppose most of the billionaire class' interests in economics and policy making? How does that conflict work in practice, especially in the long run?

@daryllndemmayah4874

Жыл бұрын

Strategically speaking it is a horrible idea, but who knows maybe Soros has been demonized by propaganda and has Good heart. Or h is an embodiment of chaous who just wants to go haunts the grain to see chaous.

@NoReprensentationWithoutTax

Жыл бұрын

I am not an expert on Soros but I might have some explanations. First, he is not from an extreme wealthy family so maybe he does not share the classic stereotypical views of billionaires. For instance, he was already in 1999 heavily speaking up against financial derugalation and warning about a potential crisis. Second, not all "capitalists" defend their class. Robert Owen was a capitalist and very well aware of the problems of capitalism. Or take Engels, he is probably the best example. A more recent example is warren buffet eventough he might just want to avoid social unrest to keep his wealth. Lastly, I saw an interview from Soros, it seems like he has kind of two personnalities. The first is a speculator that crushes people and countries and makes money out of it. The second is a citizen trying to act as what he believes is the common good. At least that what he says. But in each case, I am thankful that we get Chang's teachings because I cant afford Cambridge classes.

@vasconcelossentimento

Жыл бұрын

@@NoReprensentationWithoutTax damn... that would definetely surprise me, but i guess its possible. Maybe its even a sound explanation as to why Soros became the #1 billionaire boogey-man of the right wing...

28:23 - Free Market . . . Most highly regulated Market 28:40 - Shrub 29:19 - Defining the "free market" is at the deepest level a pointless exercise 29:33 - All markets are constrained by institutions

This series is like the Dead Sea scrolls

@sawtoothiandi

4 жыл бұрын

hate to get biblical but.. Isaiah 29:11 The entire vision will be to you like the words of a sealed book, which when they give it to the one who is literate, saying, "Please read this," he will say, "I cannot, for it is sealed." Revelation 5:1-2 I saw in the right hand of Him who sat on the throne a book written inside and on the back, sealed up with seven seals. And I saw a strong angel proclaiming with a loud voice, "Who is worthy to open the book and to break its seals?"

@dickhamilton3517

3 жыл бұрын

@@sawtoothiandi the dead sea scrolls are not biblical.

I like how he ends each sentence with a little "hm?" as if asking "do you understand?" or "do you agree?". It reminds me of how Canadians always say "eh?" 😆

@royj973

Жыл бұрын

Typical expression in Asian countries.

Thank you Dr.Chang. Im very pleased that i found your course.

Excellent lectures

Outstanding explaination✌✌✌

This man is really such a good speaker.

Great lecture, and very helpful prompts in the video as well.

This was a wholesome and amazing lecture!

'Economics for People' by Ha-Joon Chang effectively investigates the intrinsic political dimension of economics, putting light on five compelling reasons that challenge our traditional view. Chang challenges readers to critically explore the intersections of power, ideology, and policy in his astute analysis, making this book an essential read for anyone seeking a greater understanding of the complicated interplay between economics and politics.

Please put a link to the first lecture in the description! Thanks :)

So interesting

Sick series, so glad i found it

@alexandrugheorghe3152

3 жыл бұрын

I guess

Politics determines how wealth is distributed within a country, while wars and diplomacy determine how wealth is distributed between countries.

31:46 - Other less-free markets there are even more restrictions 32:02 - 32:11 - Product discovery patent & process to produce patent 33:12 -

full employment how about economic supply as top agenda

........yeah -Ha-Joon Chang

25:05 - The freedom of the market is in the eyes of the beholder 25:22 - 1819 British Cotton Mills & Factories Act (only cotton factories) 26:15 - 26:52 -

20:13 - The power to make people think

You have such a knack at communication. Could you talk about long term capital and co-ordinated markets in relation freedom of occupation along side liberal alterntives?

18:56 - 80 percent of economic decisions are made within hierarchal-power organized firms

28:39 i genuinely did a spit take. i can only aspire to be this versed in composing casual burn.

I don't think the market is closed but lovley talk

Yeah

Finally thank god finally I found someone who see economics the way it is, I have proposed by things in eocnomics and when ever I debated I saw that the responses from people are influenced by their political thinking, some people could not imagine my policy suggestion working without government authority, for them economics can't happen without power. The concept of people and their power is not in their mind. I also proposed that there is no free market, a market is defined by the participants, for example nuterient sharing at root level is regulated by the plants and organism in that ecosystem. Same is the true for humans, Language, culture, climate, product all influence the market, What is free in free market system is the possibilities of markets, there can be unlimited markets for unlimited types of products. For me economics is a subject which can has all subjects under it, all science and subjects should be tought under economics because the fundamanetal concepts of science is similar to economics so they are related.

@debtanuchakraborty8179

4 жыл бұрын

Wow! So have you written or published anything on it?

@krys8494

4 жыл бұрын

Chitranjan Baghi u dumb fuck lol economics of a country cant happen without the government...now the degree of government intervention is where the problem lies

@stuckinthemud4352

4 жыл бұрын

@@krys8494 your a dumb fuck if u think economics is something that doesn't naturally exist in our world government or not. I dont usually talk trash but your a fucking prick. Tell me this did pre government humans not exchange goods? Pretty shure they did.

@stuckinthemud4352

4 жыл бұрын

Can any of u tell me how value is added to an economy or removed? If u cant u need to go back to the basics before listening to this complicated gibberish.

@ChitranjanBaghiofficial

4 жыл бұрын

@@stuckinthemud4352 when one produce and other consumes value is created in the economy.

Gary economics in the house

Can someone give me the summary of this video?

But it is still true and since the Red Scare, students of economics in the US were strongly directed away of any study critical of capitalism. It would be a career limiting move, an economic sanction. As such it isn’t a field of inquiry.

@aurelia5614

Жыл бұрын

Why it's falling behind so many other advanced countries except militarily (myopically so).

Love that shot at neoliberalism. Good shit.

It’s about the covert, personal motivation of everyone involved. While the administrations are involved in regulating the economy, no one is ultimately responsible for the outcomes of economic imbalance. Decisions are made on the hypothesis of how the economy will pan out, while personal financial gain is at the forefront, regardless of the potential fallout. For as long as money is revered as the ultimate value matrices illicit business practices will prevail.

Because economics can't really predict anything. It's dealing with people and that's in the realm of psychology. It's more difficult than all the variables that make up weather forecasts. Economics is a philosophy at best, and at it's heart is a political idea at it's core. Economics particularly macro economics, is about the most worthless study possible, that we over value as if it has any predictive capacity... it doesn't. Not even in a probabilistic predictions. It's nearly worthless other than through the lens of philosophical morality. It's relativistic; it's political. Pretending its anything else is the attempt to try to make your argument sound as solid as the natural physical laws of observable sciences. People simply don't behave like water molecules, or specific discrete angles in a specific discrete triangle. It should be handled as a way to think about things, but largely taken as a probabilistic maybe that may happen, thus take it all as a grain of salt. It simply isn't a science... not a physical observational, testable, reproduce-able, science. It's a philosophy. You take it or leave it or argue piece for and against and make your own maximums and arguments; ie it's political.

@stuckinthemud4352

4 жыл бұрын

Your mostly correct but there are two factors that cannot fundamentally change in economics. How value is added and how value is removed. These two factors are unchangeable no matter the country or the system. They wont change. All economic theory is predicated on these two mathematical realities. Do u know how value is added or removed from any economy?

@mnmz8393

3 жыл бұрын

The economic principle (one of many) that "people that have more money, tend to buy more & people that have less money tend to buy less" has predictive power, but only to a certain degree due to multiple variations in individual situations. It's a commonly observed phenomena with mountains of statistical data that describe these trends as quite regular. Another principle - High interest rates tend to reduce investment & increase savings.

@lutherblissett9070

2 жыл бұрын

Imagine what will happen when we learn how to predict the weather, it's gonna be a game changer.

Pareto Principle is the qualitative version of time-timing sync-duration, allocation of cause-effect probability in e-Pi-i, quantitative sync-duration connectivity function in proportioning derived from relative-timing ratio-rates of clocking, or resonance half-life duration in logarithmic time-timing. If we now know we live in a Holographic Principle Image Universe and why is an irrelevant question that answers itself, cause-effect, then what's left to understand is HOW? Log-antilog Conformal QM-TIME Field Condensation periodicity of superimposed density-intensity Amplitude is self-defining modulation and frequency sweep vertically integrated alignments inflate this matrix of positioning holography dimensionality. How do we know if we are so much a part of Actuality?, because by deduction, the cause-effect of phase-locked superposition identification is here-now-forever embedding in/of e-Pi-i QM-TIME Completeness.., but a good teaching and learning technique is required to communicate effectively.., and show why, fundamentally, politics is not the priority issue that should be left to lying peddlers of Deliberate Ignorance.

thats what everyone in the world knew except the brits, who don't understand why an economic block like the EU morphs sooner or later into a political one, and all free trade is political

@dickhamilton3517

3 жыл бұрын

there is no free trade. All exchange comes with conditions, especially now that we have the new 'trade deals' which are mere wrappers for theft and coercion, carefully hidden from democratic oversight.

@dickhamilton3517

3 жыл бұрын

don't generalise. most knew fine.

ever notice that economist rarely talk about money ? how its created for starters . what exactly is it ? any discussion about a fractional reserve banking system ?

Economics is built on top of the social and political constructs, which is again built on individual beliefs and behavior which are very unpredictable. Applying this individual unpredictability through various group interactions and time parameters makes for the very interesting black box of economics (looks like a living being of its own).

@Soleilune1995

4 жыл бұрын

Same thing with quantum mechanics and classical mechanics, even though classical mechanics should theoretically be explainable through quantum mechanics. They function in a fundamentally different way. It's emergence.

23:34 you are right prof. UK in chaos right now

I share his beliefs about the market. That's what drives me crazy when I talk about stuff like this with libertarian types. They won't even consider the possibility that a "free market" isn't free or that it isn't ethically doable. They assume the ethical part will magically work itself out.

@AdobadoFantastico

Жыл бұрын

There's a few decades of heavy propaganda pushing them that way.

@TheCommonS3Nse

Жыл бұрын

Exactly! They will argue that we need a “free market” solution… but their free market solution is deregulation and lower corporate tax rates! That’s what got us here in the first place! That’s not a free market. That’s just giving more power to the people who already hold most of the power.

@claudermiller

Жыл бұрын

@@TheCommonS3Nse the majority of the ones I've met are extremely narrow minded. Everything is black and white. Free market equals free. Must be good. Like George W said, "I don't do nuance." They want simple answers for everything.

@markwelch3564

Жыл бұрын

What protects the free market, if people are free to engage in monopoly and piracy? I have yet to be given a good answer to that one!

@claudermiller

Жыл бұрын

@@markwelch3564 Jesus? 😆

Surely any sacrifice is justified if it is for the greater good of the Politically ascendant classes? Well, not any sacrifice!

Is all Economics == political, or are there some aspects which lie out of the political influence?

@jackvac1918

3 жыл бұрын

Economics shape the way people think about economies, systems that are fundamental to social and political life, and therefore shapes how people politically engage with them. It makes them receptive or hostile to particular economic arrangements and systems, shapes whether they think certain distributions of wealth and therefore material power are just or not, turns them into defenders of the status quo or revolutionaries seeking change. It's used all the time to justify policy and constantly prescribes who should gain and who should lose for to achieve some sort of moral or social good. It is political.

@DrSanity7777777

3 жыл бұрын

Politics can be boiled down to policy of stewardship/ownership. It was once about who can own humans, land, then machinery, though today it is becoming increasingly about ownership of information. Economic power is tied closely to political power. It comes from property (the rights and powers of ownership) and the means to acquire property. In today’s 21st century global economy, the most significant forms of property are in advanced technologies and corporate equity. In the USA today, 10% hold 90% of directly owned corporate shares. When ownership is concentrated, power is concentrated. This is why a few people are very powerful and most people are virtually powerless. "Power (influence and control) always follows property... The only possible way then of preserving the balance of power on the side of equal liberty and public virtue, is to make the acquisition of land (potential productive capital) easy to every member of society: to make a division of the land into small quantities, So that the multitude may be possessed of landed estates (established productive capital)." - John Adams The wealth-producing power of an individual worker has not increased much over the last 1,000 years. Poor people and most non-property-owning workers can only produce insecure subsistence incomes from their jobs. Some people, however, profit from the work that the technology does by owning shares in the companies that use that technology. These people become rich and powerful because they own the things (capital) that produce most of our wealth. In a democratic and just economy everyone should have an equal opportunity and equal access to the means to own shares in companies that use advanced technology. The U.S. economy, for example, should have programs that lift artificial tax and credit barriers to help every American become an owner of American Industry. Every family could then earn income from jobs and income from capital that every family member would own. "Americans are a nation of industrial share croppers who work for somebody else and no other source of income. If a man owns something that will produce a second income, he'll be a better customer for the things that American industry produces... The [expanded ownership] revolution makes two assumptions about the good society. One is that its most important value is freedom…. Never in history has universal suffrage been built on a sound economic foundation…. Secondly, it is assumed that leisure is essential to a civilized definition of affluence…. [T]he totalitarian work state…has no place for whole men, only ‘human resources’ and servile functionaries... A free society does not owe every man a living. It may, and undoubtedly should, as a matter of charity, make modest provision for those who cannot produce the wealth they reasonably need to consume. But its first economic duty to its citizens is to enable them to be or to become productive. One makes men productive not by granting them wages or a salary, only by enabling them to exercise the power to produce in such manner as to produce goods for which there is an economic demand. In an industrial society, in which the burden of production is progressively passing from labor to capital, all men cannot possess the power to produce the wealth they need to consume unless a constantly growing number and proportion of men have access to the ownership of capital. Such access to the ownership of capital cannot be brought about by taking from some who have too much and giving to others who have too little or none, for this would be an attempt to maintain the integrity of private property in capital by means which would destroy it. But it would seem worth considering whether a system of financing new capital formation can be devised which would simultaneously promote the growth of new capital formation and increase the number of households owning viable capital estates." - Louis Kelso kzread.info/dash/bejne/l4mal5OGaaeco9o.html

Should central banks be independent of governments?

@laulaja-7186

9 ай бұрын

Depends if the central banks, instead of dependency on the government, become dependent on some other form of corruption doesn’t it.

👍🏽👌❤️

funny i actually got his reference with the japanese sumo wrestlers and chicago drug dealers

Also the democracy is bad for markets assumes that the well-being of markets is the goal of democracy. The goal of democracy is self-goverment with human rights afforded to all. People could conciously decide to gut the economy if they think that's what's right for their democracy. They just have to stop at human rights.

2:19 how to get away with murder

It's substantial facts. Not emotionalism

when i was 12 i always wanted to work full time and get a head start in my financial life im 23 now and still dont see a problem with it

@laulaja-7186

9 ай бұрын

Must be nice that you have access to work, and access to rent etc that the work pays you enough to afford. Enjoy it while you can- if you try to retool the career to something better in midlife or later, you will more likely get dumped from the labour market and labelled as “unemployable”.

Who author says that economics and politic are inseperable?

@ivandafoe5451

3 жыл бұрын

Asks the commenter who somehow thinks they are when they are not.

@markwelch3564

Жыл бұрын

The Tory party regularly claim that their policies are "just economics" done apolitically, even (perhaps especially) when there's a major political choice involved

These videos are extremely helpful in understanding how best to help my town and develop a new economic strategy based on the true base driver, children. It’s simple to me. Economy is derived from French origin and means “to manage the home. Home means child or there would be no next generation. The meaning has devolved into something else. I see each municipality as a geographical home, in this case a county. My county has 50% child poverty. It is a tourist based economy, rather than home or local economy, and does not capture dollars properly. In fact, it extracts deeply from its people. Looking for ways to manage tourist capacity and capture dollars in ways that support infrastructure that enables the children to become the economic powerhouse.

Governments should be looking to renationalise essential services for the masses. I'd much rather pay higher taxes to the government that I vote fore than "private" taxes to some corporation that profits of my data and elects board members I have no choice over. Costs are much lower in socialist countries, and as we start approaching post-scarcity, the price mechanism in neoliberal economics starts to become a poor indicator of useful value of a commodity.

@soulfuzz368

4 жыл бұрын

Tushar Singh what planet do you live on? I would like to visit sometime.

@tusharsingh4543

4 жыл бұрын

​@@soulfuzz368 Planet Earth. Maybe you've digested too much capitalist propaganda.

@soulfuzz368

4 жыл бұрын

Tushar Singh the idea that technology will deliver us to a “post scarcity” world IS capitalist propaganda.

@tusharsingh4543

4 жыл бұрын

​@@soulfuzz368 Except it's already happening. Food production exceeds 1/3rd of global demand, and yet millions starve because they lack access. The commodification of basic necessities is destroying society and causing needless waste. Instead of giving free access to food to those who need it, we let the hungry rummage through our bins to feed themselves. Instead of giving the homeless a roof over their heads, we gentrify and price them out of their own homes, all to the benefit of homeowners equity and speculation by real estate investors. That is a function of capitalism, to profit and accumulate, be it off of blood, sweat and tears if required. Other areas will soon achieve this near abundance, and so we as a society need to make a choice? Do we let the gains of our labour go to the 1%, or do we let all of us share in the prosperity of our global wealth and resources? Do you want a blade runner dystopia, or a star trek utopia? Cyber punk oligarch plutocracy or fully automate luxury communism?

@soulfuzz368

4 жыл бұрын

Tushar Singh the idea that you can “build” or “buy” your way out of your problems is capitalist koolaid either way. Advertising makes you think that dilithium crystals are around the corner and as long as you keep buying the newest stuff, it will all be good. Star trek is consumerist propaganda too.

23:18 -

why is the sync so bad? the audio is about half a second ahead of the video at points. poor chang looks like he has a terrible nervous lip.

Free Market / (most highly regulated market) . The big con. 1984 speak

from now on i hate Pareto efficiency 🤔

there is no such thing as free market, only regulated market

one can see that the word "worker" in England is basically another word for slave.

It is possible that education is a better/worse example of influence of thought. Educators = claim better while increasing prices more than other industry and won't work when their students need them and are unionized and invariably support the worst in bad governments.

11:13 if you think that is the worst conclusion reached by utilitarians..wait until you hear about the repugnant conclusion.

Long live communism and freedom

"... typical idiot savant way..." LOL

11:56 - Is there an easy solution to the absolute defense of the status quo v. The tyranny of the majority? . Yes: MMT , since only our C-I-G is deprived of what it needs, namely, all citizens living good lives & pursuing Happiness

"George W Bush in his typical idiot savant way"....LMFAO!!! DUDE!!!

He touched on something with the quote from the priest….you can’t ask the question be au many times it thé fact that the poor and les educated have more children, children cost money and lots of time to nurture. Obviously this has a profound effect on society in general. Yet we can’t talk about that and we certainly can’t tell a country that they’re having too many children and that’s why they can’t lift thier economies out of perpetual poverty. The only country who apparently got the memo and ran with it was Mother India, god bless her! Look how good they’re doing!

the bible said that the true will be known at the end of the world 🌎 🥶🥶🥶🥶🥶🥶

They get views, but people do not comment....The invisible Hand

white guy trying his hardest not to punch the air @29:18.

Interesting to hear HaJoon try to speak of economics for the people while remaining within a framework of "market economies." Ultimately it is reassuring but doesn't work. He beats around the bush but doesn't seem to be going anywhere and doesn't openly reveal his own economic ideology. I think I agree with him, but he takes so long to make a point that I lose interest. Maybe I should read him instead of listening to him.

Is economic science about what is, or what aught to be ? Turns out it's neither....

Why does he not mention who funds and pays for his own work? I would respect him more if he did- by not doing so he is suspect. He notes what direction "economists" are going- but why is he favoring the policy and approach he is?

socialists incoming

Ok Kay so you can be a communist saint then

@sgramstrup

Жыл бұрын

Jeebus woman, you have been propagandized your whole life to hate 'Commies' - ONLY because The Liberal Elite in the US have told you they are baad. Read a book, and break out of your fear of Communism or Socialism..

The students look bored out of their minds. No one is taking notes. Look up Free to Choose by Milton Friedman-he presents ideas and then debates the points with various points of view. Much more engaging which equals better learning.

@bergspot

3 жыл бұрын

More engaging, but wrong to start with.

@TomBreazeal

3 жыл бұрын

@@bergspot I'e watched 4 or 5 already and have yet to be persuaded by someone who has different ideas than him.

@geopolitics94

2 жыл бұрын

You are wrong, we are just shocked to how much we’ve been lied to

@TomBreazeal

2 жыл бұрын

@@geopolitics94 Good excuse for poor content-both instructional and to be put on a social media entertainment platform. Again Free to Choose is not only lightyears more engaging but more accurate.

@Alex-fu3mi

2 жыл бұрын

@@TomBreazeal you can’t claim any economic school is “more accurate” than another. Each school builds their theory from different subjects, with different assumptions and underlying logic. A pluralist approach is probably best, but will still fall short of describing how the “real world” actually is.

나라망신... 영어발음 뭐냐 진짜. 아무리 알맹이가 중요하대도 흐이규~~~

Is that Gary at 02:19?

@sanyopoweraid1

2 ай бұрын

I do believe it is. Or it is his doppelganger