The Power of People Over Profit

In his latest work, “Edible Economics”, Professor Ha-Joon Chang presents a compelling argument that economic systems are shaped by the food people eat and drink. This concept may seem esoteric at first glance, but as Chang masterfully illustrates, it holds significant implications for our understanding of development, inequality, and global politics. Chang’s thesis centers on the idea that the production, distribution, and consumption of food have historically driven economic systems. From the rise of feudalism to the modern era of neoliberal capitalism, the food economy has played a pivotal role in shaping social and political structures. By examining case studies from Asia, Africa, and Latin America, Chang demonstrates how the availability and affordability of food have influenced economic outcomes. One of the key concepts introduced by Chang is the distinction between “inclusive growth” and “exclusionary growth”. While inclusive growth prioritizes the needs of all members of society, often through state-led development initiatives, exclusionary growth focuses on enriching a small elite at the expense of the many. The food economy, Chang argues, can be both a driver of inclusion and exclusion. Chang also explores the role of globalization in shaping local food economies. He shows how multinational corporations have disrupted traditional food systems, often with devastating consequences for small-scale farmers and rural communities. At the same time, however, globalization has also created new opportunities for food-based entrepreneurship and social innovation. Ultimately, “Edible Economics” offers a fresh perspective on the relationship between economics, politics, and food. By emphasizing the importance of people’s needs over profit, Chang presents a compelling vision for more equitable and sustainable economic development. As he himself puts it, “the economy is not just about production and consumption, but also about sustenance”.