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Analysis and Commentary

Beijing Consensus for Russia?

by Michael S. Bernstam, Alvin Rabushkavia
Wednesday, June 2, 2004

Hong Kong's economic writers believe that Russia is beginning to adopt the Beijing consensus, China's pragmatic approach to economic policy.

Lost Boys at 70

by Patrick Robertsvia Policy Review
Tuesday, June 1, 2004

Patrick Roberts on Inequality in America: What Role for Human Capital Policies? by James J. Heckman and Alan B. Krueger and Shared Beginings, Divergent Lives: Delinquent Boys to Age 70 by John H. Laub and Robert J. Sampson

Fixing China's Banks, Not Russia's

by Michael S. Bernstam, Alvin Rabushka
Tuesday, May 25, 2004

If a picture is worth a thousand words, what about two pictures?

Analysis and Commentary

The Flat Tax in Iraq: Much Ado About Nothing—So Far

by Alvin Rabushkavia
Thursday, May 6, 2004

Supporters and opponents of the flat tax have spilled considerable ink debating the merits of a 15% flat tax on personal income in Iraq that was implemented on January 1, 2004.

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The Mother of All Tax Credits

by Jeffrey M. Jonesvia Hoover Digest
Friday, April 30, 2004

Hoover public affairs fellow Jeffrey M. Jones on a federal anti-poverty program that actually works.

The Provinces

Hu's New Deal and the New Provincial Chiefs

by Cheng Livia China Leadership Monitor
Friday, April 30, 2004

Any major shift in the strategic development of a country cannot be achieved without the presence of a large, unified group of governing elites who support the plan. Hu Jintao's New Deal is no exception. An analysis of the 29 top provincial leaders appointed since Hu became president of the People's Republic of China (PRC) in March 2003 shows that he has selected many like-minded provincial leaders to carry out his New Deal policies. Most of these new provincial leaders are relatively young; they typically advanced their careers from the grass roots and local administration; most have postgraduate degrees (mainly in economics, the social sciences, and the humanities); and many worked in rural areas early in their careers and later gained experience by managing large cities. Many had close ties with Hu during the early years of their careers as Chinese Communist Youth League (CCYL) officials. Equally significantly, the experience and outlook of many of these provincial chiefs mirror those of their role models Hu and Wen, in terms of their substantial work experience in China's inland region as well as the image of themselves they choose to present to the general public.

Economic Policy

Financial Reconstruction: Methodical Policymaking Moves into the Spotlight

by Barry Naughtonvia China Leadership Monitor
Friday, April 30, 2004

The Wen Jiabao administration has found its feet and instituted ambitious initiatives in the financial arena. Since December 2003, major new policies toward the financial sector have been rolled out. Recapitalization, reorganization, and stock market listing of two of the main state-owned banks have begun. A program for new policies toward the stock market has been released. The launching of major programs follows the reorganization of the administrative apparatus and the promulgation of a series of laws and programmatic documents. Thus, the resumption of activist policymaking represents the culmination of a steady and methodical process of preparation. The degree of preparation is impressive, but it also reflects the magnitude of the challenges currently being faced and the difficulty of shepherding new policies through the Chinese political system.

The Great Outsourcing Scare of 2004

by Russell Robertsvia Hoover Digest
Friday, April 30, 2004

Outsourcing doesn’t mean the end of the American economy. It means growth. By Hoover fellow Russell Roberts.

Political Reform

Continuing Pressures on Social Order

by Joseph Fewsmithvia China Leadership Monitor
Friday, April 30, 2004

The recently published edition of the Blue Book of Chinese Society, an annual survey of social problems and attitudes published by the Chinese Academy of Social Sciences (CASS), gives ample evidence that social problems continue to worsen even as the new government focuses more attention on the plight of those left behind in China's struggle for economic growth and modernization. There are positive signs as well. Overall, incomes are up (according to official statistics); the middle class, depending on how one defines it, is growing; and most people continue to expect incomes to grow. Moreover, the government is increasing the resources it expends on social welfare. Nevertheless, a host of problems challenges China's new leadership, including income inequality, labor disturbances, rural disorder, and corruption. But the most difficult issue remains jobs. China's booming economy just does not create enough jobs relative to overall growth or the needs of the society. Thus, social order appears to be a long-term political problem for China.

Defining Social Welfare—and Achieving It

by Richard A. Epsteinvia Hoover Digest
Friday, April 30, 2004

Whether you define social welfare as wealth, health, or happiness, you’ll discover that it’s best achieved by way of property rights and limited government. By Hoover fellow Richard Epstein.


Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple