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Political Reform

Is Political Reform Ahead?—Beijing Confronts Problems Facing Society—and the CCP

by Joseph Fewsmithvia China Leadership Monitor
Wednesday, January 30, 2002

On July 1, Jiang Zemin, general secretary of the Chinese Communist Party (CCP), called for admitting private entrepreneurs into the party. Although this decision in some ways brought party policy into line with reality, it was an important announcement not only because it reversed a formal party decision made in the wake of the Tiananmen crackdown but also because it opened the door to a wide range of possible political changes. Jiang's announcement may be only the tip of the iceberg. Recent publications have suggested that, in the run-up to the Sixteenth Party Congress (scheduled for fall 2002), party leaders are thinking systematically about the changes it needs to make to cope with the very rapid socioeconomic changes in Chinese society. Although the clear goal is to keep the CCP in power, it is evident that party leaders at the highest levels understand that they can only stay in power by changing. Political change is not without danger. "Leftists" in the party have excoriated Jiang's announcement, and there is widespread resentment over inequalities that have opened up in recent years in Chinese society. If the party is widely seen as speaking only for the well to do—a perception that is already widespread—popular discontent is likely to continue to spread.

Party Affairs

The Road to the Sixteenth Party Congress

by Alice L. Millervia China Leadership Monitor
Wednesday, January 30, 2002

The scheduling of the Sixteenth Congress of the Chinese Communist Party by a recent Central Committee plenum inaugurates a prolonged process of preparations that will dominate leadership politics over the coming year and color Beijing's approach to policy in all areas. Expected to convene in the fall next year, the congress will lay the foundation for subsequent policy departures and put into place a new generation of top Party leaders. Judging by the themes of leadership statements and press commentary in recent months, the focus of the Congress is likely to be reform of the Communist Party itself so that it can better manage China's increasingly market-driven economy and the impact of China's upcoming entry into the WTO.

Up from the Ashes

by Gary S. Becker, Kevin M. Murphyvia Hoover Digest
Wednesday, January 30, 2002

When will the economy recover from the shock of September 11? Sooner than you might think. By Hoover fellow Gary S. Becker and Kevin M. Murphy.

The Myth of the Minority Majority

by Stephan Thernstromvia Hoover Digest
Wednesday, January 30, 2002

How race-conscious policies have failed. By Stephan Thernstrom.

Uncle Sam, Unfair Competitor

by Rick Geddesvia Hoover Digest
Wednesday, January 30, 2002

When it comes to engaging in predatory pricing and unfair competition, Microsoft has nothing on the U.S. government. By Hoover fellow Rick Geddes.

MONEY RULES: The Role of the Federal Reserve

with Michael J. Boskin, Janet Yellenvia Uncommon Knowledge
Wednesday, January 9, 2002

Interest Rate adjustments by the Federal Reserve are among the most closely watched and anticipated of all economic policy decisions. Yet many economists believe the Fed no longer has the power it once did to regulate the economy. So just how powerful is the Fed today? What tools does the Fed have to regulate the economy, and how should they be used?

Russia's Fiscal Pattern Redux: Testing an Old Hypothesis with the New Data

by Michael S. Bernstam, Alvin Rabushka
Wednesday, January 9, 2002

Several episodes at the end of fiscal year 2001 illustrate the systemic features of Russia’s post-Communist economy.

Crony Capitalism and Economic Growth in Latin America: Theory and Evidence

Crony Capitalism and Economic Growth in Latin America: Theory and Evidence

by Stephen Habervia Books by Hoover Fellows
Tuesday, January 1, 2002

Crony capitalism systems—in which those close to political policymakers receive favors allowing them to earn returns far above market value—are a fundamental feature of the economies of Latin America.

The California Electricity Crisis

The California Electricity Crisis

by James L. Sweeneyvia Books by Hoover Fellows
Tuesday, January 1, 2002

California's electric power: from opportunity through crisis to blight.

Estonia and the Estonians: Updated Second Edition

by Toivo U. Raunvia Books by Hoover Fellows
Tuesday, January 1, 2002

A comprehensive survey of Estonian history, placing recent events into historical perspective. The author analyzes the country's post-communist transition, its strategic geopolitical location, and the role of ethnic Estonians in shaping the history of the area.


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