China is never going to be a global model. Western system is really broken in some fundamental ways, but the Chinese system is not going to work either. It is a deeply unfair and immoral system where everything can be taken away from anyone in a split second.

China is never going to be a global model. Western system is really broken in some fundamental ways, but the Chinese system is not going to work either. It is a deeply unfair and immoral system where everything can be taken away from anyone in a split second.

The desire for economic prosperity is itself not culturally determined but almost universally shared

If people who have to work together in an enterprise trust one another it is because they are all operating to a common set of ethical norms....such a society will be better able to innovate...since the high degree of trust will permit a wide variety of social relationships to emerge.

Neoclassical economics ... has uncovered important truths about the nature of money and markets because its fundamental model of rational self-interested human behavior is correct about 80% of the time.

For capitalism flourishes best in a mobile and egalitarian society

It was the slave's continuing desire for recognition that was the motor which propelled history forward, not the idle complacency and unchanging self-identity of the master