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Ha-Joon Chang

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Ha-Joon Chang is a prominent South Korean economist and academic. An economist is a professional who studies how societies use resources, money, and trade.

Born on October 7, 1963, Chang has spent his career analyzing how nations develop wealth. He earned his MPhil and PhD from the University of Cambridge. His doctoral thesis focused on the political economy of industrial policy. He taught at Cambridge from 1990 until 2021. Currently, he serves as a professor at the School of Oriental and African Studies (SOAS) in London.

Chang specializes in a field called institutionalist political economy. This approach places economic history and socio-political factors at the center of economic evolution. He studies how social rules and historical events shape economic practices. During his studies, he worked with Robert Rowthorn, a leading British Marxist economist. Together, they explored the theory of industrial policy. Chang describes industrial policy as a middle way. It sits between central planning and an unrestrained free market. This concept suggests that some government involvement can help guide a nation's growth.

His most influential work is the book Kicking Away the Ladder, published in 2002. This book won the 2003 Gunnar Myrdal Prize from the European Association for Evolutionary Political Economy.

In this text, Chang argues that major developed countries used interventionist policies to become wealthy. Interventionist policies are actions where a government steps into the economy to influence outcomes. Chang claims these countries later tried to forbid developing nations from using similar strategies. He calls this behavior "ladder-kicking." He argues this practice creates a fundamental obstacle to poverty alleviation in the developing world. He specifically criticizes the World Trade Organization, the World Bank, and the International Monetary Fund for this.

Because of his research, Chang received the 2005 Wassily Leontief Prize. This award recognizes those who advance the frontiers of economic thought.

His work has also earned him recognition from Prospect magazine. In 2013, the magazine ranked him as one of the top 20 World Thinkers. Chang has served as a consultant for many major global organizations. These include the World Bank, the Asian Development Bank, and the European Investment Bank. He has also worked with Oxfam and various United Nations agencies. He is a fellow at the Center for Economic and Policy Research in Washington, D.C.

Academic debate often surrounds Chang's conclusions. For example, Douglas Irwin, a professor at Dartmouth College, criticized Chang's methodology. Irwin argued that Chang only looked at countries that developed during the nineteenth century. He suggested Chang did not examine countries that failed to develop to see if they used similar policies. Chang countered this by stating that failed countries generally followed free market policies. Another economist, William Easterly, criticized Chang for using selective evidence. Chang responded by asserting that Easterly had misread his argument. Despite these disagreements, Stanley Engerman of the University of Rochester praised Chang's historical re-examination of economic institutions.

Chang has expanded his focus through several other major publications. In 2008, he published Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism. This book follows the themes found in his earlier work. In 2011, he released 23 Things They Don't Tell You About Capitalism. This book offers a twenty-three point rebuttal to aspects of neo-liberal capitalism. Neo-liberalism is an economic approach that favors free markets and minimal government interference. Chang uses this book to discuss how capitalism affects all countries, not just developing ones. He also wrote Economics: The User's Guide in 2014 to introduce the subject to the general public.

Chang's work connects deeply to the study of global development and social justice. He examines how the current economic system can be shaped toward humane ends. His research looks at how privatization and anti-inflationary policies affect growth. He also analyzes how the washing machine changed the world more than the internet. By studying the relationship between history and policy, Chang invites us to rethink how wealth is created. His career demonstrates how studying the past can help us understand the challenges of the modern global economy.

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