Thinking Allowed - 22/09/2010

The United States does not have the highest living standard in the world - The washing machine has changed the world more than the internet - People in poor countries are more entrepreneurial than people in rich countries: Three contentions from the economist Ha-Joon Chang as he joins Laurie Taylor and tries to dispel what he sees as the myths and prejudices of free-market capitalism. He claims that we labour under the misconception that financial markets become more efficient, when the opposite is true and his analysis suggests that by breaking free of its free-market ideology, capitalism can be vastly improved. Producer: Chris Wilson.