The Chinese Governance System: Impressive Strengths and Appalling Flaws

by Pranab Bardhan This is the 40th anniversary of the onset of economic ‘reform and opening-up’ (gaige kaifang) in China under the leadership of Deng Xiaoping, which eventually led to a dramatic transformation of its economy and global status. It is, however, remarkable that China’s current supreme leader, Xi Jinping, marked the anniversary in a…

Populism in Less Developed Countries Is Somewhat Different

by Pranab Bardhan The ill-defined term ‘populism’ is used in different senses not just by common people or the media, but even among social scientists. Economists usually interpret it as short-termism at the expense of the long-term health of the economy. They usually refer to it in describing macro-economic profligacy, leading to galloping budget deficits…