"Bless... the peasant who is born, eats, and dies without anyone bothering about his affairs." So wrote that some-time Italian journalist best known for his musical compositions, Giuseppe Verdi. What Verdi believed was possible in the 19 th century and the thousand years that preceded it, but is no longer. Indeed, the opposite is more likely. In Poland, for example, peasants not only want to shout news of their affairs to the world, but they want to shape Poland in their own image.
In his The Age of Extremes, Eric Hobsbawm argued that the greatest change in the West in the 20 th century was the vast reduction in the number of people employed as farmers. Everywhere you look peasants have almost disappeared.
Not here in Eastern Europe. Soviet-style economies may have posed as avatars of industrial modernization, but in most of the USSR's former satellite states Marxist-Leninist economics locked vast numbers of people onto farms. Today, this reserve army of peasants is creating the most serious political conflicts seen in Poland since communism's fall as the country seeks membership in the European Union.
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Since the 1990s, Western companies have invested a fortune in the Chinese economy, and tens of thousands of Chinese students have studied in US and European universities or worked in Western companies. None of this made China more democratic, and now it is heading toward an economic showdown with the US.
argue that the strategy of economic engagement has failed to mitigate the Chinese regime’s behavior.
While Chicago School orthodoxy says that humans can’t beat markets, behavioral economists insist that it’s humans who make markets, which means that humans can strive to improve their functioning. Which claim you believe has important implications for both economic theory and financial regulation.
uses Nobel laureate Robert J. Shiller’s work to buttress the case for a behavioral approach to economics.
"Bless... the peasant who is born, eats, and dies without anyone bothering about his affairs." So wrote that some-time Italian journalist best known for his musical compositions, Giuseppe Verdi. What Verdi believed was possible in the 19 th century and the thousand years that preceded it, but is no longer. Indeed, the opposite is more likely. In Poland, for example, peasants not only want to shout news of their affairs to the world, but they want to shape Poland in their own image.
In his The Age of Extremes, Eric Hobsbawm argued that the greatest change in the West in the 20 th century was the vast reduction in the number of people employed as farmers. Everywhere you look peasants have almost disappeared.
Not here in Eastern Europe. Soviet-style economies may have posed as avatars of industrial modernization, but in most of the USSR's former satellite states Marxist-Leninist economics locked vast numbers of people onto farms. Today, this reserve army of peasants is creating the most serious political conflicts seen in Poland since communism's fall as the country seeks membership in the European Union.
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
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