A Quote by Ha-Joon Chang

Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.

Ha-Joon Chang

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American American Writer Bit Countries Economic Economic Policy Economic System Enterprise Free Free Enterprise Global Gore Keynesianism Like Once Policy Poor Rich Rich Countries Scale Socialism System Writer

Quote Author

Ha-Joon Chang
South Korean - Economist
Born: October 7, 1963

In a system of free trade and free markets poor countries - and poor people - are not poor because others are rich. Indeed, if others became less rich the poor would in all probability become still poorer.

Margaret Thatcher

Free enterprise is the best economic system in the history of the world, because it is the only system where you can make poor people richer and you don't have to make rich people poor.

Marco Rubio

A cynic had defined aid as simply the system by which poor white people in rich countries gave money to rich black people in poor countries to put into Swiss bank accounts.

Wilbur Smith

Our upside down welfare state is socialism for the rich, free enterprise for the poor.

William O. Douglas

The free market is 'socialism' for the rich: the public pays the costs and the rich get the benefit - markets for the poor and plenty of state protection for the rich.

Noam Chomsky

Growing richer every day, for as rich and poor are relative terms, when the rich are growing poor, it is pretty much the same as if the poor were growing rich. Nobody is poor when the distinction between rich and poor is destroyed.

James L. Petigru

Socially, I never belonged to any class, rich or poor. To the rich I was poor, and to the poor I was poor pretending to be like the rich.

John O'Hara

That was always my experience-a poor boy in a rich town; a poor boy in a rich boy's school; a poor boy in a rich man's club at Princeton .... However, I have never been able to forgive the rich for being rich, and it has colored my entire life and works.

F. Scott Fitzgerald

The great question for our time is, how to make sure that the continuing scientific revolution brings benefits to everybody rather than widening the gap between rich and poor. To lift up poor countries, and poor people in rich countries, from poverty, to give them a chance of a decent life, technology is not enough. Technology must be guided and driven by ethics if it is to do more than provide new toys for the rich.

Freeman Dyson

There is an alternative to terror. It is called, in the political order, democracy. In the economic order, it is called the dynamic enterprise economy. (...) It empowers poor people from the bottom up. (...) A dynamic economic sector is the poor's best hope of escaping the prison of poverty. It is the only system so far known to human beings to take poor people and make them, quite soon, middle class, and some of them even (horrors!) rich.

Michael Novak

Forced to choose, the poor, like the rich, love money more than political liberty; and the only political freedom capable of enduring is one that is so pruned as to keep the rich from denuding the poor by ability or subtlety and the poor from robbing the rich by violence or votes.

Will Durant

Aid is the process by which the poor in rich countries subsidize the rich in poor countries.

Peter Thomas Bauer

God wants us to show compassion and understanding toward the unemployed or the poor not because they are poor, but because poor people, with help from those who are already successful, can become rich. And when the poor become rich, all will benefit, because in our modern economy new unemployment is the first sign of economic growth.

Paul Zane Pilzer

We have two American flags always: one for the rich and one for the poor. When the rich fly it means that things are under control; when the poor fly it means danger, revolution, anarchy.

Henry Miller

We are developing in the United States a huge underclass of unwanted people, many of them the descendants of the exploitation of the South American and Latin American countries by American piratical capitalism. Not all capitalism is piratical, but some of it certainly is. And we have a fantastic gap beginning to exist between rich and poor.