photo: muffinn A generation ago, in the second half of the 80s, hardly anyone would predict the fall of real socialism, or communism, as it was known in the West, and the disintegration of the Soviet Union. Quite the contrary; even such prominent Sovietologists as Zbigniew Brzeziński assumed that the USSR may not fall and would […]

What’s on China’s Mind?

During my recent visit to China I’ve given a few lectures at the top Beijing universities – Tsinghua, Renmin, Normal, and Beijing – and seminars in some think-tanks and research institutes, including the Center for China and Globalization. I also had couple of meetings with the readers of my new book published in Chinese: “Shi […]

Troj(ik)an war

In economics you need imagination that goes beyond conventional patterns of thought which are incompatible with the fast, sometimes quite dramatically, changing reality. In politics, which is defined as the ability to leverage opportunities that come our way, imagination is even more needed. What if someone plants some kind of a Trojan horse on us… […]

Africanization of Greece

In the early 1990s – during the infamous shock without therapy, which resulted in Poland’s national income fall by nearly 20 percent, over 3-million unemployment and budget deficit  6.9 percent of GDP in 1992 – there was a talk about “Latinization” of my country, pointing to the increasing similarities with the then dysfunctional economies of […]

Greece: Don’t play with fire, but don’t sweep it under the carpet

Greece’s government is absolutely right that it cannot further cut budget expenses and raise taxes imposed already on the people in order to have funds to endless repaying of the foreign debt. That would be wrong, since it is not just socially unacceptable, but also economically irrational. Thus far, the implemented policies have succeeded in […]

Emerging Markets or Emancipating Economies?

As for the so called emerging markets, not only should we not get too easily excited by this seemingly attractive concept, which, sadly, happens to too many economists but, on the contrary, we need to defy it. The term “emerging markets” was proposed not so much in relation to a society that allocates its resources […]

No ‘Hard Landing’ for Chinese Economy

No “hard landing” for Chinese economy In the development economics there is a popular term of “hard landing”. It is contrasted with the “soft landing” defined as descending gradually and softly from high output growth levels, especially when the growth is related to an overheated economy. Hard landing means facing different realities as a result […]

The Warning Forecasts or Market Manipulations?

What are the warning forecast about? Who cautions who against what and how? Well, if we properly identify the underlying mechanisms of a given process, we conjecture that a continued existence of objectively occurring tendencies must lead to undesirable results. So we want to avoid them and we draw up a warning forecast whereby if […]

1 2 3 4