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Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist …
Persistent link: https://www.econbiz.de/10012460970
Globalization radically changes income distribution and triggers intense international tax competition. Therefore …, globalization entails an extensive restructuring of the welfare state. We analyze a parsimonious model of an open economy, in its … trade and finance transactions with the rest of the world, governed by voter-majority-controlled welfare state. We analyze …
Persistent link: https://www.econbiz.de/10012480145
substantial reversal to state intervention if nowadays the world was hit by a shock of the size of the Great Depression …
Persistent link: https://www.econbiz.de/10012464054
institutional factors. We use the World Values Surveys to identify the relationship between intensity of religious beliefs and …
Persistent link: https://www.econbiz.de/10012469472
While the economies of the fifteen countries that were in the European Union (EU15) in 2000 will continue to grow from now until 2040, they will not be able to match the surges in growth that will occur in South and East Asia. In 2040, the Chinese economy will reach $123 trillion, or nearly...
Persistent link: https://www.econbiz.de/10012465470
In Capital in the 21st Century, Thomas Piketty uses the market value of tradeable assets to measure both productive capital and wealth. As a measure of wealth this is problematic because it ignores the value of human capital and transfer wealth, which have grown enormously over the last 300...
Persistent link: https://www.econbiz.de/10012457747
This review essay of the two-volume Cambridge History of Capitalism (2014), edited by Larry Neal and Jeffrey G … economists to add depth to their understanding of the world economy today. Robert C. Allen analyzes the world distribution of … criticize the definition of capitalism used in these volumes as too expansive to be useful. I argue that this definition mars …
Persistent link: https://www.econbiz.de/10012458007
, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We …
Persistent link: https://www.econbiz.de/10012457900
"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...
Persistent link: https://www.econbiz.de/10010522397