American persistence and the future of social democracy

It has been a popular meme in recent years that American power is in decline. China’s rise is impressive, although some predict a Chinese crash. However a recent report by HSBC on the world economy in 2050 casts doubt on the assumption of American decline and sheds some light on the prospects of social democracy. […]

Tugan-Barnovsky and China

Discussion of the Chinese economy often centers on the idea that Chinese economic growth is fundamentally unbalanced due to low levels of domestic consumption and a reliance on exports. Yet China seems to have weathered the global financial crisis particularly well. Zacharay Karabell: China’s path, of course, is hardly without skeptics. The common argument against […]

Socialism and growth

In light of the Cuba debate an interesting comment by Pranab Bardhan: China’s earlier socialist period arguably provided a good launching pad for market reform. That foundation provided wide access to education and health care; highly egalitarian land redistribution that created a rural safety net and thus eased the process of market reform, with all […]

Robert Fogel & Charles Pearson

The great Australian book of the 19th century was Charles Pearson’s 1893 National Life and Character. Summarised by Pearson’s biographer as: Drawing on observations made in his travels, wide reading and knowledge of the Australasian colonies, he made two main predictions: first, that the so-called ‘higher races of men, or those which are held to […]