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The formal comparison of similarities and differences of Chinese and Western economic models misses the most important point. The uniqueness of China is that it looks very much like a developed country today in terms of institutional capacity of the state, even though it is a developing country...
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varieties of capitalism affect the rate of long-term unemployment, rather than the aggregate rate. The liberal market variety …
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The varieties of capitalism (VoCs) approach has the potential to transform economics. It implicitly emphasizes the … theory to include a distinction between varieties and varietals of capitalism. Drawing on biology, varieties correspond to … inevitably involve choice means there is an inescapable normative question regarding what type of capitalism society will have. …
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