Political Economy

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Abstract Models and Human Behavior

A precisive abstraction is one in which certain actual characteristics are specified as absent, while a nonprecisive abstraction is one in w

States, Markets, and Dis-embedded Individuals

Moving beyond liberalism is not to discard some of liberalism’s main commitments, especially those deepest longings of the West—political li

There Xi Goes...

But if you want to get all structural-functional, Xi's power comes from his position as the Chairman of the Chinese Communist Party in a

Markets and States are Complements

We know that markets make countries freer, richer, and happier compared to totalitarian central planning, but we also know that the habit am

Nation, State, and Democracy

The society and, in a sense, the nation preceded the state without having to be created by it. In such a setting, political parties represen

The Twitter Presidency

The Twitter presidency leads us to neglect our principles for our grievances and to ignore the benefits and needs of our institutions for a

Popular Rhetoric, Public Mood, and Presidential Leadership

Governing by this means, if indeed it can be called governing, leads to constant instability as leaders compete with each other to tap the l

Two Fallible Heads are Better Than One

People were no cleverer then than they are now; they made as many mistakes as we. But not the same mistakes. They will not flatter us in the

A Liberal Political Order: Medicine Not Food

“I [support democracy] because I believe in the Fall of Man. I think most people [embrace democracy] for the opposite reason. A great...

Institutional Order and Change

The changes that occur are more likely to reflect local adaptation to local experience and thus be both relatively myopic and meandering, ra

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