Please like, subscribe. I'm honoured to be joined by the esteemed professor,

Hadjun Chang, who is one of the great economists of our time.

We'll go straight into it. I'm going to ask you a very basic simple question.

We've had four decades now of what people were called neo-liberalism or

free market economics or laissez faire, whatever you want to call it,

faturism, Reaganism. And those who support those economics would say it is

brought growth, it has brought, you know, it brings innovation, it

brings, makes everyone richer. What's the scorecard for decades now?

How's it all gone? Well, the scorecard is a rather pathetic.

I mean, of course, they delivered one thing they had promised, which is

greater inequality, because the logic was that in the process of

raising inequality, we give more incentive for the richer people to

create more wealth, which will eventually trickle down.

But unfortunately, on every other front, they have failed.

You know, they, the neo-liberals initially said that they want to bring

down the inflation and make the economy more stable.

Inflation, well, until the recent that the surge had been brought down,

but at the cost of having financially more unstable economy,

all this that the boom and crashes and financial crisis.

And yeah, we have not even seen more growth.

Yeah, you know, that's the greatest neo-liberal myth, neo-liberalism has

not delivered higher growth.

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