Ha-Joon Chang Quotes

This is taking place inside Europe. This is taking place inside a once great nation. The nation that invented democracy. We are on the edge of total social breakdown. And frankly, as far as the euro is concerned and the austerity measures are concerned, the medicine is killing the patient.

Greece and the Greek people have recently had to deal with the harshest consequences of the global and European economic crisis. As an economy and as a society, we have had to experience a program of disastrous austerity which made the problems more acute instead of resolving them.

Fiscal crises often turn into financial crises, dealing a blow to the real economy.

Even institutions of State, such as the judiciary, were seriously weakened, to the extent that the citizenry justifiably feared a breakdown in law and order. The business community was hit by a slump in sales and confidence, leading to reduced earnings and loss of jobs.

Democracies can't handle austerity measures very well.

Because the world is in economic recession, which worsened since this drama happened, and our country will bear the burden of all of these consequences.

If we bankrupt America, we will all pay the price.

The world is still in deleveraging.

If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.

Europe is on an economic collision course with reality.

Faced with a deep recession, some say the answer is to expand the role of government.

A serious dose of unemployment and a spate of bank failures can make the unelectable electable quite quickly.

In an economic recession, naturally, when you ask people to list their priorities, they're going to place a higher priority on the immediate economic situation.

If the American people really tire of democracy and want to make a trial of Fascism, I shall be the last person to object. But if that is their mood, then they had better proceed toward their aim by changing the Constitution and not by forgetting it.

In a political sense, there is one problem that currently underlies all of the others. That problem is making Government sufficiently responsive to the people. If we don't make government responsive to the people, we don't make it believable. And we must make government believable if we are to have a functioning democracy.

Populism is the simple premise that markets need to be restrained by society and by a democratic political system. We are not socialists or communists, we are proponents of regulated capitalism and, I might add, people who have read American history.

Ladies and gentlemen, the economic disaster, the tailspin, the destruction of the greatest economic engine in the history of the world, these policies of Barack Obama's, which have led us to this point, are precisely why I fearlessly said and still say, I hope he fails.

The people are fed up with the political class.

I know, it's amazing to people that we have a political system, but we do.

The Great Depression was going on, so that the station and the streets teemed with homeless people, just as they do today. The newspapers were full of stories of worker layoffs and farm foreclosures and bank failures, just as they are today. All that has changed, in my opinion, is that, thanks to television, we can hide a Great Depression. We may even be hiding a Third World War.

Portugal is not doing well economically. People are upset and angry. You can feel it on the street. You can tell in the way they drive. We're talking about one of the richest histories. We had an unbelievable empire, and so many maritime discoveries, and how is it that we are now reduced to this? But I still love the country.

The situation in Greece just goes from bad to worse. We’ve now got a situation where there was the big suicide a few weeks ago, where a 77-year-old man shot himself in the head outside the Greek Parliament. That was the public face of what’s gone wrong.

Rather than a democracy, we increasingly have an elective dictatorship. People are merely permitted to choose who will violate the laws and the Constitution.

A political system seeking to function amongst ignorant, illiterate and barbaric people could have marvelous principles but could only succeed in being ignorant, illiterate and barbaric unless one addressed the people one by one and cured the ignorance, illiteracy and barbarism of each citizen.

Tell Greece that her spring has been taken out of her year.