A Taiwanese court recently sentenced Chen Shui-bien, Taiwan’s president from 2000 until 2008, to life imprisonment for corruption. But Chen's legacy may prove difficult to reverse, as it extended beyond criminality to ethnic divisiveness and neglect of economic development.
BANGKOK – Last week, a Taiwanese court sentenced Chen Shui-bien, Taiwan’s president from 2000 until 2008, to life imprisonment for corruption.
Chen had been caught stealing millions of dollars of public funds. He did not act alone. His wife (who also received a life sentence), children, and other relatives all helped to hide the stolen loot in overseas accounts. Taiwan’s former first family turned out to be a den of common thieves.
Chen and his ruling Democratic Progressive Party camouflaged their personal and parochial financial interests behind the patriotic mask of ensuring the survival of a democratic Chinese society in an independent Taiwan. For years, Chen was perceived as a brave David fighting the communist Goliath, and attracted many admirers around the world (including me at one point).
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Rather than reducing concentrated market power through “disruption” or “creative destruction,” technological innovation historically has only added to the problem, by awarding monopolies to just one or a few dominant firms. And market forces offer no remedy to the problem; only public policy can provide that.
shows that technological change leads not to disruption, but to deeper, more enduring forms of market power.
The passing of America’s preeminent foreign-policy thinker and practitioner marks the end of an era. Throughout his long and extraordinarily influential career, Henry Kissinger built a legacy that Americans would be wise to heed in this new era of great-power politics and global disarray.
reviews the life and career of America’s preeminent foreign-policy scholar-practitioner.
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BANGKOK – Last week, a Taiwanese court sentenced Chen Shui-bien, Taiwan’s president from 2000 until 2008, to life imprisonment for corruption.
Chen had been caught stealing millions of dollars of public funds. He did not act alone. His wife (who also received a life sentence), children, and other relatives all helped to hide the stolen loot in overseas accounts. Taiwan’s former first family turned out to be a den of common thieves.
Chen and his ruling Democratic Progressive Party camouflaged their personal and parochial financial interests behind the patriotic mask of ensuring the survival of a democratic Chinese society in an independent Taiwan. For years, Chen was perceived as a brave David fighting the communist Goliath, and attracted many admirers around the world (including me at one point).
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
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