“The Market Isn’t Logical, Any More Than Is Any Other Human Behavior”

From Zoe Williams’ brief review of Ha-Joon Chang’s Economics: The User’s Guide, the first title from the revived Pelican paperback line, a description of the underlying forces that drive financial considerations:

“I think his favourite section is ‘Let a Hundred Flowers Bloom’ – to judge, anyway, from his endearing pick’n’mix approach, in which he describes the nine key schools of thought, then makes up fresh labels, which you can use, if you wish, to describe yourself. The author’s references from culture proliferate: perhaps the best example is when he tries to explain, later, that the market isn’t logical, any more than is any other human behaviour, and that the things we can trade on the open market (carbon usage) and can’t (people, organs) come from beliefs, impulses and feelings that are deeper than money. ‘So politics is creating, shaping and reshaping markets before any transaction can begin. It is like the ‘Deeper Magic’ that had existed before the dawn of time, which is known to Aslan (the lion) but not to the White Witch in The Lion, the Witch and the Wardrobe.’

Tags: ,