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New Cato Journal Tackles Political Capitalism, China‘s Transition to a Liberal Society

February 17, 2015 in Economics

Political capitalism is an economic and political system in which the economic and political elite cooperate for their mutual benefit. In the new issue of Cato Journal, Randall G. Holcombe contends that we should understand political capitalism as a distinct economic system, as opposed to an intermediate system lying between capitalism and socialism. Also in this issue, Weiying Zhang analyzes the role that ideas and leadership play in China’s economic and political transition to a liberal society.

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