Reading List: Is China going capitialist?
- 5 April 2012
Simon Johnson insists that there's no need for panic over America's fiscal situation. "The smart approach is to begin the long and not-so-nice work of controlling deficits while allowing the economy to grow." Economix
Does the recent uptick in data concerning the U.S. economy mean that recoveries from financial crises might not be as different from recoveries from conventional recessions? Two economists – Carmen M. Reinhart and Kenneth S. Rogoff remain unconvinced. Bloomberg
Noting that the above notion "is of course nonsense" – as China has been a mercantilist state for more than 20 years, this article says over-spending on infrastructure and a shrinking population means China has little chance of continuing it current growth without a major economic catastrophe. Capitalists@Work
Matthew Yglesias says as bad as the Depression was, the population's ability to up sticks and move to other parts of the county because living standards were so low, may have made the Great Depression less severe. Slate
"Export success will resurrect the United States as a dominant global economic power. America will be wealthier, its products will have greater global reach, and it will largely cure its trade imbalance with China." American Interest
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