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OSHA's Trivial Pursuit

by John Hoodvia Policy Review
Thursday, June 1, 1995

In Workplace Safety, Business Outperforms the Regulators

Clinton's Cocaine Babies

by Charles Condon via Policy Review
Saturday, April 1, 1995

Why Won't the Administration Let Us Save Our Children?

Pride and Prejudice

by Ward Connerlyvia Policy Review
Saturday, April 1, 1995

Black Business Leaders Ask: Is It Time to Set Quotas Aside?

The Unconstitutional Congress

by Stephen Moorevia Policy Review
Saturday, April 1, 1995

The GOP Misses the Best Argument for Limiting Government

A Farmer's Scarlet Letter

by Blake Hurstvia Policy Review
Saturday, April 1, 1995

Four Generations of Middle-Class Welfare Is Enough

Books

Economic Transition in Eastern Europe and Russia: Realities of Reform

via Hoover Institution Press
Wednesday, March 1, 1995

Thirteen essays by acknowledged economic experts explore the rapid changes in the transition economies of Eastern Europe, with discussions on political and economic freedom, monetary control and privatization, labor markets and social safety nets, and taxation and crime.

China's Transition to Markets-Market Preserving Federalism, Chinese Style

by Barry R. Weingastvia Analysis
Wednesday, February 1, 1995

This essay studies the relationship between decentralization and the success of economic reform in China. It begins with a theory about the relationship between the types of decentralization and economic performance. We argue that a particular form of decentralization, called market-preserving federlism, Chinese style, provides a critical component of the political foundations for market success in China.

After discussing the evolution of federalism, Chinese style, during the first fifteen years of reform (1979-1993), we turn to the political foundation of economic reform. We argue that economic success hinges in part on an important aspect of decentralization, notably, that it provides for the political security of the reforms. By creating alternative centers of power at local levels, decentralization established forces that could help resist attempts by the central government to compromise the reforms.

China's form of decentralization has served the critical purpose of creating markets at time when political resistance to economic reform remained strong and when the durability of the reforms was important. Nonetheless, federalism, Chinese style, remains incomplete, accounting for some of the anomalies surrounding China's success. It lacks some national public goods such as enforcement of a common market and a unified monetary system, and the system needs to be institutionalized via a set of rules underpinning the market. We also observed that aspects of the problems facing modern China are not unique but have historical precedents in the economic development of the West. To this end, we highlight some important parallels between the economic and political problems facing the early United States under the Articles of Confederation (1781-1787) and those of modern China.

Books

One Korea?: Challenges and Prospects for Reunification

via Hoover Institution Press
Monday, August 1, 1994

A distinguished panel of scholars from around the world convened at the Hoover Institution in June 1993 to assess prospects for a reunited Korea. Scenarios for reunification identified at that conference are presented in this volume.

Books

Fix the U.S. Budget! Urgings of an "Abominable No-Man"

by James C. Miller IIIvia Hoover Institution Press
Friday, April 1, 1994

Fix the U.S. Budget! is a firsthand account of the crucial and extraordinary events surrounding the federal budget during the 1980s. Miller's memoir is an original contribution to our understanding of the evolution and significance of events, and he provides firm and persuasive recommendations for fixing the U.S. budget.

Books

Shaping a New Economic Relationship: The Republic of Korea and the United States

via Hoover Institution Press
Wednesday, September 1, 1993

This volume evaluates the complex developments between the United States and Korea and offers policy recommendations for how both countries in the future might avoid the bitter politiczation of trade disputes of the recent past and expand their economic relations.

Pages

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