“Are we a socialist country now?” That’s what my son asked me over a latte at Ruby’s Cafe this morning. I’ve heard a number of Chinese people or Westerners who work in China say, “China is more capitalistic than the United States,” and I now believe it’s true. They have less of a safety net, more of an entrepreneurial mindset, and they are making state-run companies more responsible for the bottomline.
All that’s going on certainly makes the presidential campaign more interesting, and even more important. I’ve been reading more about economics than ever before – along with a lot of other people, I suspect, for whom names like Bear Stearns and Lehman barely registered until recently. Here are a couple of things about the work of a Princeton economistÂ – whoops, political scientist – called Larry Bartels:
And here’s a oped by Bartels: