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Truth, Errors, and Lies: Politics and Economics in a Volatile World resources

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6. The Withering of Neoliberalism and Its Tattered Legacy 435 12 . Professor Kazimierz Laski of the Vienna Institute for International Economic Research (WIIW) issued a particularly chilling critique of “shock therapy” in “The Stabilization Plan for Poland,” Wirtschaftspolitische Blätter , 5 (1990): 444–58), where he warned that industrial production would fall by 25 percent in the fi 1990, causing mass unemployment. Unfortunately, he rst year, was right. 13 . Then, after the successful implementation of the program known as “Strategy for Poland,” the author of this book for the fi rst time had stepped down from the Polish government. He was deputy prime minister and minis- ter of fi 1994–97 and 2002–03. nance in four governments in 14 . The Dutch researcher Donald Kalff, who also has real-world business experience, dispels the idea that the American model of capitalism and man- agement offers any sort of qualitative advantages and considers the implica- tions of this fact for competitiveness and the growth of production in An Un- American Business: The Rise of the New European Enterprise Model (London: Kogan Page, 2005). 15 . For the negative impact of excessively unequal income distribution on the rate of economic growth, see Vito Tanzi, Ke-Young Chu, and Sanjeev Gupta, eds., Economic Policy and Inequality (Washington, DC: International Monetary Fund, 1999). 16 . Bernt Bratsberg et al., Non-linearities in Inter-generational Earnings Mobility (London: Royal Economics Society, 2006); American Exceptionalism in a New Light (Bonn: Institute for the Study of Labor, 2006). 17 . For the results of this Gallup poll, see “Testing Muslim Views: If You Want My Opinion,” The Economist , March 10, 2007, p. 63. 18 . I refl ected on tensions in relations between the United States and Iran in a two-part article, “Triggering the Next Iranian Revolution,” The Globalist , March 14 (part one) and March 15 (part two), 2007. www.theglobalist.com. 19 . Results of a representative survey conducted by the BBC. See “Latin America and the United States: Spring Break,” The Economist , March 3, 2007, p. 49. 20 . Francis Fukuyama expresses some impassioned views on this subject in America at the Crossroads: Democracy, Power, and the Neoconservative Legacy (New Haven: Yale University Press, 2006). See also the comparative analysis of the presidencies of George H. W. Bush, Bill Clinton, and George W. Bush in Zbigniew Brzezinski, Second Chance: Three Presidents and the Crisis of Ameri- can Superpower (New York: Basic Books, 2007). 21 . At the end of 2007, the World Bank shocked and astonished a good many people by revising its previous estimates downward and announcing that the Chinese GDP, by purchasing power parity, was no less than 40 percent lower than previously estimated. This would mean that it hovered in the region of $6 trillion, rather than $10 trillion. The GDP of India was “marked down”

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