Quote by: Ha-Joon Chang

Contrary to what many people believe, the welfare state was originally a 'rightwing' invention. It was the arch-conservative Otton von Bismarck who first introduced it. Bismarck hated socialism, but he wasn't an ideologue. He basically figured out that if you don't provide a minimum safety net to workers, they will be persuaded by the socialists.


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Author Bio


  • NameHa-Joon Chang
  • DescriptionEconomist
  • BornOctober 7, 1963
  • CountrySouth Korea
  • ProfessionEconomist