Search Results
Journal Article
The Visible Hand: The Role of Government in China’s Long-Awaited Industrial Revolution
China is undergoing its long-awaited industrial revolution. There is no shortage of commentary and opinion on this dramatic period, but few have attempted to provide a coherent, in-depth, politicaleconomic framework that explains the fundamental mechanisms behind China?s rapid industrialization. This article reviews the New Stage Theory of economic development put forth by Wen (2016a). It illuminates the critical sequence of developmental stages since the reforms enacted by Deng Xiaoping in 1978: namely, small-scale commercialized agricultural production, proto-industrialization in the ...
Working Paper
The Visible Hand: The Role of Government in China’s Long-Awaited Industrial Revolution
China is undergoing its long-awaited industrial revolution. There is no shortage of commentary and opinion on this dramatic period, but few have attempted to provide a coherent, in-depth, political economic framework that explains the fundamental mechanisms behind China?s rapid industrialization. This article reviews the New Stage Theory of economic development put forth by Wen (2016a). It illuminates the critical sequence of developmental stages since the reforms enacted by Deng Xiaoping in 1978: namely, small-scale commercialized agricultural production, proto-industrialization in the ...
An Economist's Guide to Tidying Up
Marie Kondo's method prescribes asking whether an item sparks joy. Economic concepts, like costs and utility, might also help you declutter your home.
Sparking Joy: Can Economics Help with Happiness?
What does economics say about happiness? Economists and researchers who practice the 'dismal science' share how concepts such as sunk cost, scarcity and utility can inform your personal sense of happiness.
World Cup Fans in a World-Class Research Division
Futbol fever is coming alive at the Fed. Find out who folks are rooting for, and what fascinates them about the economics of sports.