Bureaucracy and Regulation

China's industrial policy has been marked by many failures and few successes. Rather, China's real growth has been fueled by the regime's limited turn to markets. 

Economics is not simply a series of transactions with hidden implications. Rather sound economics understands that long-term effects outlive the short-term effects of every economic principle or policy.

China's industrial policy has been marked by many failures and few successes. Rather, China's real growth has been fueled by the regime's limited turn to markets. 

One cannot declare the scientific method simultaneously to be both valid and invalid, yet, this is what Krugman is doing.

The state is making people dependent on it, both as means for control and as an outcome of many policies intended to provide relief.

The state is making people dependent on it, both as means for control and as an outcome of many policies intended to provide relief.

China's central planning makes it remarkably inefficient.  China is the world’s largest installer of wind power. Yet with twice the wind capacity as the US, the Chinese still produce less power. 

Some think that beer's history of regulation begins with hops, but beer has been hemmed in by government red tape for much longer.

Some think that beer's history of regulation begins with hops, but beer has been hemmed in by government red tape for much longer.

For many, the covid era has been like a rollercoaster. But as the world seems to near the end of the ride, governments don't seem in a hurry to roll back their restrictions.