PinnedThomas ShelbyThe Myth of Russian Shock TherapyIn discussions about economic development, critics of the market economy often point to the case study of Russia which is widely known as…Jun 192Jun 192
Thomas ShelbyThe Failure of the Japanese Economic MiracleIn discussions about the literature on industrial policy, those who distrust markets and favor state-led economic development will often…Jul 232Jul 232
Thomas ShelbyThe Myth of Free Market Hong KongHong Kong is known as one of the freest market economies in the world, and many advocates of market economics such as Milton Friedman have…Feb 19Feb 19
Thomas ShelbyThe Development of Labor Markets in South KoreaThis article aims to highlight the development of the industrial working class in South Korea and to examine the underlying causes for the…Jan 161Jan 161
Thomas ShelbySouth Korea: A Case Study of Political Capitalism (Part 2)This article aims to expand further on the economic policies pursued by the South Korean state from 1980 to 1997 as well as the causes of…Jan 14Jan 14
Thomas ShelbySouth Korea: A Case Study of Political Capitalism“Political capitalism is an economic and political system in which the economic and political elite cooperate for their mutual benefit. The…Jan 113Jan 113
Thomas ShelbyThe Myth of Chinese State CapitalismIn contemporary debates about the merits of free markets, advocates for market reform have pointed to the Chinese economy which underwent a…Oct 16, 202326Oct 16, 202326
Thomas ShelbyThe Workers’ Case for Free Market AnarchismOne of the biggest objections to libertarians’ pursuit of a society free from the trappings and injustices of the state is the question of…Sep 28, 20232Sep 28, 20232
