costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free … enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of …

We present a new theory of pervasive shortages under socialism, based on the assumption that the planners are self … suggests that market socialism is bound to fail even without computational complexities facing the planners …

corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism …

"We explore the impact of a tax reform in some provinces of China which eliminated the value-added tax on some … induce labor-saving growth. This experiment has since been extended to the rest of China"--National Bureau of Economic …

by the number of publications originating from Chinese research institutions. China's rise in science has the potential …