State Capitalism vs. Market Capitalism – who’s your money on?
The question, never mind the answer, isn’t as clear as you might think, argues Niall Ferguson in this month’s Foreign Policy Magazine (hyperlink not working). It’s generally assumed that since the de facto beginning of the end of Maoism/Chinese Communism – call it what you will – in 1979, China has been pioneering a new hybrid model of “State Capitalism”. In more recent years, Putin’s Russia is regularly cited as another state pursuing a similar course. And this new-ish state …