Edible Economics: A Hungry Economist Explains the World

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For decades, a single free-market philosophy has dominated global economics. But this is bland and unhealthy—like British food in the 1980s, when best-selling author and economist Ha-Joon Chang first arrived in the UK from South Korea. Just as eating a wide range of cuisines contributes to a more interesting and balanced diet, so, too, is it essential we listen to a variety of economic perspectives.

This book isn't about the economy of food production from planting to the market's shelf but about worldwide economics explained through food, a clever concept that makes economics accessible for the layperson. The titles of the sections might sound rather generic or dry, but the writing is anything but. Each chapter has a recipe as a header, not in full but as a list of ingredients that go into the recipe that showcases the food item used as an example to discuss the theme of the chapter. I'm not much of a recipe enthusiast, but sometimes I wanted to know the preparation part of the recipe mentioned. I guess it's left like that, just a list, so we can experiment if we want?If austerity did not lead to a more just society, it also did not lead to a more prosperous economy. Since the 2007-08 crash, the UK economy has expanded at an average annual rate of just 0.9 per cent (compared with 2.7 per cent before the crisis). Of the G7 countries only Italy has fared worse. Edible Economics is a funny, thought-provoking book that often made me forget that I was reading about economics, which I’m sure was the point. I didn’t reach the end with a full understanding of even the most dominant economic theory – not even close – but Edible Economics has sparked in me an interest in a subject that I had previously found impenetrable, revealing it to be a much broader-ranging topic than I had believed. As the author explains, economics has a direct and enormous impact on our lives, so it’s ‘vital that we all understand at least some of its principles’. To think of a recent example, the development of the COVID-19 vaccine was hugely funded by governments. Exact estimates differ, but according to some estimates, up to 80 percent of funding came from the government and other public sources. So there has been a lot more industrial policy around than we realize. I asked if there was any country or model that he regarded as exemplar. “No one’s perfect, you have to learn different things from different countries. In terms of building productive capabilities, you should look at countries such as Germany, South Korea, even Taiwan, which has used various types of industrial policy.” P130: “[more re climate change] “…we need to drive less in personal vehicles….” And government has to determine better living arrangements for us- so we can walk to stores or use public transportation. This is the same egomania that underlined Stalin and Mao’s collectivization drives that killed millions.

Even if none of that sounds particularly interesting to you, it's worth the listen just to scoop up some of the fascinating tidbits (trivia buffs, take note!). Here's some of what I learned: I don’t believe that there’s just one kind of capitalism. There are many different kinds, and we can make institutional changes to make capitalism more humane. It’ll help to have Econ 101 under your belt to appreciate this book, but it makes for fine foodie entertainment. While I did find some of Chang’s opinions to be distinctly British — though born and raised in South Korea, Ha-Joon Chang attended university and now teaches in the UK — it was still easy to remind myself that this is a book of opinions as much as it is a book of fact. It’s not a textbook, but rather a unique economic overview from one individual’s perspective. I do appreciate the author’s evident extended effort to present ideas and concepts fairly, particularly multiple discussions of different versions and perspectives of the same theories, but the overarching author’s voice and bias is still ever-present. Fortunately, Ha-Joon Chang’s final recommendation to the reader is to understand that every perspective is just that: a perspective. Economics, though presented as firmly rooted in hard data and science, is just as much a matter of opinion as most things in this world.I am sure it will be a tasty treat for everyone interested not only in food or economics but in a good storytelling about how the modern world works. I would be lying if I said I didn't have passion for food. So when I saw this unusual premise of explaining economics through what we eat, I had to read it. As enjoyable as the culinary mentions were, their connection to economics didn't always work. The chapters were either a hit or a miss. But that doesn't take away from how engaging the book was. In the chapter ‘Strawberry’, Chang explains how this labour-intensive fruit (actually not a berry) has contributed to the rise in low-wage jobs Ha-Joon Chang presents an easily digestible and occasionally mouthwatering introduction to some of the more challenging, and misunderstood, economic ideas

In Edible Economics, Chang makes challenging economic ideas more palatable by plating them alongside stories about food from around the world. He uses histories behind familiar food items - where they come from, how they are cooked and consumed, what they mean to different cultures - to explore economic theory. For Chang, chocolate is a life-long addiction, but more exciting are the insights it offers into post-industrial knowledge economies; and while okra makes Southern gumbo heart-meltingly smooth, it also speaks of capitalism's entangled relationship with freedom and unfreedom. Explaining everything from the hidden cost of care work to the misleading language of the free market as he cooks dishes like anchovy and egg toast, Gambas al Ajillo and Korean dotori mook, Ha-Joon Chang serves up an easy-to-digest feast of bold ideas. P111: “[re education] In other words, equality of opportunity is not enough; we need a relatively high degree of outcome.” Some parts of the book were fascinating because of historical context (eg. Mandated lime for English sailors to prevent scurvy) and debunking of myths (eg. Switzerland not actually being a post-industrial country). Some weren't as insightful — most probably because I was already aware of those theories and phenomena. This said, the connections between ingredients and economic concepts discussed often felt forced and disconnected. While the relationships established are outlined in the index, I felt they get lost in the introductory descriptions of ingredients of every chapter and only forcibly knit together with the economic concept discussed in the last paragraph of the chapter.Este es el cuarto libro que leo del economista coreano. Él lo califica de extraño, pero fascinante es el adjetivo que le hace mayor justicia. Over the decades, as Britons’ culinary tastes have expanded from a bland diet of boiled meat and veg, the diversity of economic theories that inform UK government policy has shrunk. In Edible Economics, Ha-Joon Chang presents an easily digestible introduction to some of the more challenging, and misunderstood, economic ideas. My food stories are a bit like the ice cream that some of your mums may have offered to ‘bribe’ you to eat your ‘greens’ – except that in this book ice cream comes first, the greens later (what a deal!)” - admits Ha-Joon Chang in the preface. But he is also right when he adds: “my economic stories are going to be rewards in themselves because I have made them tastier than the usual by making them more varied in kind and more complex in flavour”. P 130: “ [re climate change, the government decides what you eat] “…changing our eating habits can have a big impact….I am not suggesting that we should totally give up on food variety, but those who live in rich countries should reduce their expectations for ‘on demand’ food.” This is particularly obnoxious because the author recounts throughout the book his international diet.