January 16, 2023
Hoover Institution | Stanford University
A Hoover History Lab Book Talk with Wenkai He.
Wenkai He is the author of the acclaimed book Paths toward the Modern Fiscal State: England, Japan, and China (Harvard, 2013), an extraordinary comparative work, based on an impressive array of primary sources, elucidating why the modern the modern fiscal state emerged in some places and not in others. His new book, Public Interest and State Legitimation: Early Modern England, Japan, and China (Cambridge, 2023), again marshaling vast primary source evidence, examines how a public interest-based discourse of state legitimation emerged not only in early modern England, but also in Japan and China. This shared normative platform enabled societies to negotiate and collaborate with states over how to attain good governance through providing public goods such as famine relief and infrastructural facilities. The terms of state legitimacy opened a limited yet significant political space for the ruled to petition and protest, challenging states to fulfill their promises and address grievances about taking care of the people. Not a few petitions demanded fundamental political reforms. This is yet another indispensable work for all those interested in state-making in global perspective.
ABOUT THE SPEAKER
Wenkai He is an associate professor in the Division of Social Science at the Hong Kong University of Science and Technology. His research interest is the comparative political economy of state formation. His book Paths toward the Modern Fiscal State: England, Japan, and China (Harvard University Press, 2013) examines the process of institutional development through which states managed to centralize the collection of indirect taxes to raise long-term financial resources and thus significantly enhance state capacity.
,,fw4L6m6oVZs,UCzWwWbbKHg4aodl0S35R6XA, Business,Politics,Society, channel_UCzWwWbbKHg4aodl0S35R6XA, video_fw4L6m6oVZs,Hoover Institution senior fellow Elizabeth Economy and Rhodium Group Co-founder Daniel Rosen discuss the shift in Chinese economic policy under Xi Jinping, particularly his decision to move away from heavy investment in the property sector and focus on the "three new industries"—battery technology, electric vehicles (EVs), energy storage, and AI-driven advanced manufacturing.
#China #CCP #XiJinping #PRC #USA #America #UnitedStates #Trade #Economics #Tariffs #Politics #Geopolitics #Trump #DonaldTrump #EV #ElectricVehicle #Property #AI #ArtificialIntelligence ##Democracy #Battery #Technology #Taiwan #Philipines #HongKong #SouthChinaSea #Trade #TradeWar #Shorts #YouTubeShorts #ShortsVideo #ShortVideo
,,NuWFYdRqkJo,UCzWwWbbKHg4aodl0S35R6XA, Politics,Society, channel_UCzWwWbbKHg4aodl0S35R6XA, video_NuWFYdRqkJo,On #ChinaConsidered with host Elizabeth Economy, Matt Pottinger discusses how a second Trump administration might approach China policy. Pottinger explains that Trump may continue where he left off, largely utilizing the US-China trade relationship as a proxy for the problems in the broader relationship between the countries.
#China #CCP #XiJinping #PRC #USA #America #UnitedStates #Trade #Economics #Tariffs #Politics #Geopolitics #Trump #DonaldTrump #Democracy #Taiwan #Philipines #HongKong #SouthChinaSea #Trade #TradeWar #Shorts #YouTubeShorts #ShortsVideo #ShortVideo
,1,January 16, 2023
Hoover Institution | Stanford University
A Hoover History Lab Book Talk with Wenkai He.
Wenkai He is the author of the acclaimed book Paths toward the Modern Fiscal State: England, Japan, and China (Harvard, 2013), an extraordinary comparative work, based on an impressive array of primary sources, elucidating why the modern the modern fiscal state emerged in some places and not in others. His new book, Public Interest and State Legitimation: Early Modern England, Japan, and China (Cambridge, 2023), again marshaling vast primary source evidence, examines how a public interest-based discourse of state legitimation emerged not only in early modern England, but also in Japan and China. This shared normative platform enabled societies to negotiate and collaborate with states over how to attain good governance through providing public goods such as famine relief and infrastructural facilities. The terms of state legitimacy opened a limited yet significant political space for the ruled to petition and protest, challenging states to fulfill their promises and address grievances about taking care of the people. Not a few petitions demanded fundamental political reforms. This is yet another indispensable work for all those interested in state-making in global perspective.
ABOUT THE SPEAKER
Wenkai He is an associate professor in the Division of Social Science at the Hong Kong University of Science and Technology. His research interest is the comparative political economy of state formation. His book Paths toward the Modern Fiscal State: England, Japan, and China (Harvard University Press, 2013) examines the process of institutional development through which states managed to centralize the collection of indirect taxes to raise long-term financial resources and thus significantly enhance state capacity.
,1,January 31, 2024
Hoover Institution | Stanford University
Jesús Fernández-Villaverde, the Howard Marks Presidential Professor of Economics at the University of Pennsylvania, discussed “The Wealth of Working Nations,” a paper with Gustavo Ventura (Arizona State University) and Wen Yao (Tsinghua University).
PARTICIPANTS
Jesús Fernández-Villaverde, John Taylor, Annelise Anderson, Michael Boskin, Doug Branch, Pedro Carvalho, John Cochrane, Chris Dauer, Steve Davis, Sebastian Di Tella, David Fedor, Jared Franz, Bob Hall, Adele Hayutin, Gregory Hess, Laurie Hodrick, Robert Hodrick, Chad Jones, Ken Judd, Matthew Kahn, Pete Klenow, Evan Koenig, David Laidler, Oliver Landmann, John Lipsky, Lee Ohanian, Robert Oster, Radek Paluszynski, Elena Pastorino, Paul Peterson, Alvin Rabushka, Valerie Ramey, Richard Sousa, Tom Stephenson, Jack Tatom, George Tavlas, Yevgeniy Teryoshin, Chris Tonetti, Victor Valcarcel, Gustavo Ventura
ISSUES DISCUSSED
Jesús Fernández-Villaverde, the Howard Marks Presidential Professor of Economics at the University of Pennsylvania, discussed “The Wealth of Working Nations,” a paper with Gustavo Ventura (Arizona State University) and Wen Yao (Tsinghua University).
John Taylor, the Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Senior Fellow in Economics at the Hoover Institution, was the moderator.
PAPER SUMMARY
Due to population aging, GDP growth per capita and GDP growth per working-age adult have become quite different among many advanced economies over the last several decades. Countries whose GDP growth per capita performance has been lackluster, like Japan, have done surprisingly well in terms of GDP growth per working-age adult. Indeed, from 1998 to 2019, Japan has grown slightly faster than the U.S. in terms of per working-age adult: an accumulated 31.9% vs. 29.5%. Furthermore, many advanced economies appear to be on parallel balanced growth trajectories in terms of working-age adults despite important differences in levels. Motivated by this observation, we calibrate a standard neoclassical growth model in which the growth of the working-age adult population varies in line with the data for each economy. Despite the underlying demographic differences, the calibrated model tracks output per workingage adult in most economies of our sample. Our results imply that the growth behavior of mature, aging economies is not puzzling from a theoretical perspective.
To read the paper, click the following link
https://www.sas.upenn.edu/%7Ejesusfv/Wealth_Working_Nations.pdf
To read the slides, click the following link
https://www.hoover.org/sites/default/files/2024-02/Slides_Hoover.pdf