The Power of Ideas and Leadership in China's Transition to a Liberal Society

Author
Weiying Zhang
Content Type
Journal Article
Journal
The Cato Journal
Volume
35
Issue Number
1
Publication Date
Winter 2015
Institution
The Cato Institute
Abstract
History and casual observations suggest that ideas and leadership are the two most important forces in all institutional changes. However, they have been absent or downplayed in conventional economic analysis of institutional changes. Conventional economics has exclusively focused on the notion of “interest” in explaining almost everything, from consumers' choices to public choices to institutional changes. IN particular, institutional changes have been modeled as a game of interests between different groups (such as the ruling and the ruled), with the assumption that there is a well-defined mapping from interests into outcomes.
Topic
Economics
Political Geography
China