Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it conducts monetary policy. The subject has to be defined in terms of the object of inquiry.
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Ha-Joon Chang:
Sometimes people with strong ideology, whether left-wing or right-wing, refuse to do something simpHa-Joon Chang:
I am one of the most successful economists, according to what markets tell us, though most of my prHa-Joon Chang:
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