China’s Failed Industrial Policy

The Hidden Cost of China’s Statism

I wrote many years ago that China did not have a “tiger economy.” Indeed, I subsequently pointed out that China’s growth is not impressive when compared to East Asian nations that did enjoy rapid growth. My goal was to convince people that the U.S....
Japan’s Failed Experiment in Industrial Policy

Gimmicky Public Policy from Japan

It’s hard to be optimistic about Japan’s economic future, in large part because the burden of government is expanding thanks to an aging population and a tax-and-transfer entitlement system. Maintaining that approach is a recipe for ever-higher...