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.
华盛顿—美国宪法的起草者做出了根本性的选择:他们应该将权力集中在一个人手里,还是设计一套政治制度,让决策影响力更加分散?如今,美国总统奥巴马在考虑谁来继任伯南克作为美联储董事会主席时也面临着同样的选择。
伯南克的遗产显然是多样的,但最吸引人特色的要数共同掌权的精神和他在美联储所鼓励的责任共担。事实上,他的继任者的一个关键目标应该是将这一做法进一步巩固,使之成为新的制度传统。
但不管从历史经验还是从奥巴马政府最近的试探性口风看,最后产生的极有可能是集大权于一身的美联储主席。美联储董事会由七位官员组成,但是,在其绝大部分历史上,董事会一直位于主席的阴影下,其中三位(艾尔克斯、马丁和最近的格林斯潘)担任主席都将近20年。
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
Subscribe
As a registered user, you can enjoy more PS content every month – for free.
Register
Already have an account? Log in