Suchergebnisse

Cover -- Advance Praise for Puzzles, Paradoxes, Controversies, and the Global Economy -- Half Title -- Title Page -- Copyright -- Dedication -- Contents -- Foreword -- Preface -- Acknowledgments -- Part I: China's Economy -- 1. The Paradoxes of China -- 2. China's Expanding Role in Global Merger-and-Acquisition Markets -- 3. China's Next Buying Spree -- 4. China's Foreign Aid and Government-Sponsored Investment Activities -- 5. The Strategy behind China's Aid Expansion -- 6. A Truly Great Leap Forward -- 7. A Smarter Approach to the Yuan -- 8. Our Misplaced Yuan Worries -- 9. Chinese Fire Drill -- 10. A Liberated Yuan Is Likely to Fall -- 11. Developmental Corruption in China -- Part II: US Economy and Other Issues -- 12. Where Keynes Went Wrong -- 13. Pro-growth Austerity -- 14. Explaining the Recovery's Puzzles -- 15. The Fed and Inequality -- 16. Income Inequality -- 17. One Policy Change, Please -- 18. Tax the Nonprofits -- 19. The Facts about American "Decline" -- 20. An American Lost Decade? -- 21. What Are the Chances the United States Becomes Energy Independent? -- 22. The Geopolitics of US Energy Independence -- Part III: US - China Interactions -- 23. All Inequality Is Not Equal -- 24. The Inequality Debate -- 25. A Few Low Notes Won't Spoil China-US Harmony -- 26. Bipartisanship Doesn't Help Fix Exchange Rates -- Part IV: Japan, Korea, India -- 27. The Asian Century -- 28. Japan's Sun May Be Rising -- 29. China and India, 2025 -- 30. Modernizing the North Korean System -- 31. The Cost of Reuniting Korea -- Part V: Other Regions and Issues -- 32. Austerity and Stimulus-Two Misfires -- 33. How Might bin Laden's Demise Affect Business? -- 34. Enhancement by Enlargement -- 35. Asia's Nonproliferation Laggards -- 36. Natural Disasters -- 37. The Economist's Pantheon -- About the Author -- Index

A review essay on a book by Andrew Wedeman, Double Paradox: Rapid Growth and Rising Corruption in China (Cornell University Press, 2012).

The best law schools and public policy graduate schools inculcate in their students an ability to make the strongest possible case in favor of a position or policy with which they disagree. The test of whether the lesson has been truly learned is whether those who favor the position would accept its rendition as a fair and effective representation of why they favor it. With this in mind, I present below the argument for the U.S. stance favoring a substantial rise in the undervalued Chinese yuan. The U.S. position has been repeatedly stated, albeit in abbreviated and nuanced form, by President Obama and Treasury Secretary Geithner. It is also reflected in the large bipartisan majority in the House of Representatives that approved legislation to allow a retaliatory tariff on China's exports to the U.S. unless China revalues its currency. It has been expressed more vociferously and combatively by key leaders in the Senate, and by politically-charged commentators including Paul Krugman. Once the case for this "pro" position has been presented fairly and fully, I will explain why I think it is fundamentally wrong. I will then go on to suggest measures that would be more appropriate and effective in contributing to a "rebalancing" of China's international accounts as well as those of the U.S. than would a revaluation of the Chinese yuan. In early January, when President Hu Jintao met in Washington, D. C, with President Obama, the agenda for the meeting deftly acknowledged the presidents' disagreement on the currency issue without discussing, let alone resolving, it. Adapted from the source document.

While there is much that is new about globalization, there is much about it that is familiar. As in the past, while globalization produces both winners & losers, aggregate gains exceed aggregate losses, & gains & losses occur within both rich & poor countries. While the rich tend to grow richer, so do the poor. Absolute measures of income inequality often increase with globalization, though they are not caused by it. 4 Tables, 1 Figure, 8 References. Adapted from the source document.

ABSTRACTThis paper aims to redress the asymmetry in the standard economic treatment of the shortcomings of markets and governments by developing and applying a theory of 'nonmarket' failure– that is, of government failure – so that the comparison between markets and governments can be made more systematically, and choices between them arrived at more intelligently. Several conclusions are drawn. First, the choice between markets and governments is not a pure one, actual systems inevitably involve combinations between markets and governments. Second, with respect to both static and dynamic efficiency criteria, markets generally do better than governments. Third, there are various ways in which government can contribute to improving the functioning of markets. Fourth, market forces can play a useful role in improving the functioning of government and reducing the incidence of nonmarket failures.