Pedestrians are reflected in a stock market indicator board in Tokyo, Japan, on January 29. Economics can no longer be allowed to run riot, independent of politics, sociology and ecology. It just does not add up. Photo: EPA-EFE Pedestrians are reflected in a stock market indicator board in Tokyo, Japan, on January 29. Economics can no longer be allowed to run riot, independent of politics, sociology and ecology. It just does not add up. Photo: EPA-EFE
Pedestrians are reflected in a stock market indicator board in Tokyo, Japan, on January 29. Economics can no longer be allowed to run riot, independent of politics, sociology and ecology. It just does not add up. Photo: EPA-EFE
Andrew Sheng
Opinion

Opinion

Andrew Sheng

The free market is a destructive myth. Down with the free market

  • Andrew Sheng says the free market is a bad idea that probably belongs in the rubbish bin of history. A system where human beings and mother nature have been reduced to cogs and commodities has brought only misery, and climate change

Pedestrians are reflected in a stock market indicator board in Tokyo, Japan, on January 29. Economics can no longer be allowed to run riot, independent of politics, sociology and ecology. It just does not add up. Photo: EPA-EFE Pedestrians are reflected in a stock market indicator board in Tokyo, Japan, on January 29. Economics can no longer be allowed to run riot, independent of politics, sociology and ecology. It just does not add up. Photo: EPA-EFE
Pedestrians are reflected in a stock market indicator board in Tokyo, Japan, on January 29. Economics can no longer be allowed to run riot, independent of politics, sociology and ecology. It just does not add up. Photo: EPA-EFE
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Andrew Sheng

Andrew Sheng

Andrew Sheng is a former central banker and financial regulator, currently distinguished fellow at the Asia Global Institute, University of Hong Kong. He writes widely on Asian perspectives on global issues, with columns in Project Syndicate, Asia News Network and Caijing/Caixin magazines. His latest book is “Shadow Banking in China”, co-authored with Ng Chow Soon, published by Wiley.