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

corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … externality since the existence of corrupt entrepreneurs hurts good entrepreneurs by reducing the electoral appeal of capitalism …

's global share of GDP means that liberal Asian nations will be poised to take up the role of promoting liberal democracy …

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 …

1992) are added to compare attitudes towards democracy. Two comparisons are made: between countries, and through time, to …

Can a democracy attract competent leaders, while attaining broad representation? Economic models suggest that free …) socioeconomic status. A broad implication of these facts is that it is possible for democracy to generate competent and socially …

, in the context of Hong Kong's pro-democracy movement. We elicit university students' planned participation in an upcoming …