Reaganomics Goes Global

LESZEK BALCEROWICZ Professor of Economics and Governor, National Bank of Poland, and Former Minister of Finance, Poland CLIFFORD A. BATES Professor of Political Science, Warsaw University, Poland JAN KRZYSZTOF BIELECKI President of Pekao SA, and Former Polish Prime Minister, Poland JOHN BRADLEY Research Professor, Economic and Social Research Institute, Ireland SLAWOMIR BUKOWSKI Professor of Economics, Technical University of Radom, Poland MALGORZATA DURSKA Associate Professor, American Studies Center, Warsaw University, Poland MARSHALL GOLDMAN Associate Director, Davis Center for Russian Studies, Harvard University and Professor of Economics, Wellesley College, USA STANISLAW GOMULKA Professor of Economics, London School of Economics and Political Science, UK STEVEN H. HANKE Professor of Applied Economics, John Hopkins University and Former Member, Council of Economic Advisors, Reagan Administration, USA STEVEN F. HAYWARD Resident Scholar and F.K. Weyerhaeuser Fellow, American Enterprise Institute, USA RUSLAN KHASBULATOV Professor of Economics and Director, World Economy Department, Russian Plekhanov Academy and Former Speaker, Russian Parliament, Russia STANISLAW KOWALIK Professor of Economics, Polish Academy of Sciences, Poland ANDRZEJ K. KOZMINSKI Professor of Economics and Rector, Kozminski Academy of Entrepreneurship and Management, Poland KRZYSZTOF LAZARSKI Professor of History and Political Philosophy, Lazarski School of Economics and Law, Poland DAVID LIPTON Former US Undersecretary of the Treasury, USA DAVID MCCOY Senior Research Officer, Economic and Social Research Institute, Ireland JEFFREY B. MILLER Professor of Economics, University of Delaware, USA WILLIAM A. NISKANEN Professor of Economics and President, Cato Institute, and Former Acting Chairman, Council of Economic Advisors, Reagan Administration, USA STEVEN ROSEFIELDE Professor of Economics, University of North Carolina, USA W. STAN SIEBERT Professor of Labour Economics, University of Birmingham,UK STOYAN TENEV Economist, International Finance Corporation, World Bank, USA.

• List of Figures List of Tables Foreword; W.A.Niskanen & L.Balcerowicz Preface List of Contributors Acknowledgements PART 1: THE U.S. ECONOMIC MODEL FOUNDATIONS OF THEU.S. ECONOMIC MODEL Lessons from America's Founding Fathers and U.S. Experience; S.H.Hanke Lord Acton on the Origins of American Liberty and Prosperity; K.Lazarski The Cultural Roots of the American Business Model; M.Durska Constitutional Foundations of American Capitalism; C.A.Bates CHARACTER AND EFFECTIVENESS OF U.S. ECONOMIC POLICY The Evolution of U.S. Economic Policy in the 1980s; S.F.Hayward Economic Policy During the Clinton Administration; W.A.Niskanen The Economic Policy of George W. Bush: A Continuation of Reaganomics?; W.Bienkowski PART 2: APPLICABILITY OF THE U.S. ECONOMIC MODEL THE U.S. ECONOMIC EXPERI ENCE AND ITS APPLICABLILITY TO COUNTRIES IN TRANSITION Successes and Failures in Catching-up: The Post-communist Case; L.Balcerowicz The American Economic System: A Model for Poland?; W.A.Niskanen What Has America to Offer?; D.Lipton American Economic Experience: Russian Perspective, Possibilities and Limits of Application from a Russian Perspective; R.Khasbulatov Why Russia Cannot Abide the American Economic Model: Round Peg/Square Hole; S.Rosefielde China versus the Orthodoxy: State and Ownership Reforms in Transition Economies; J.B.Miller & S.Tenev THE U.S. ECONOMIC EXPERIENCE AND EU ECONOMIC POLICIES Economic Reform in the European Union. Will the "Lisbon" EU Catch Up with the US?; M-J.Radlo The EU Concept of Cohesion: Is it Compatible with the Anglo-Saxon Model?; J.Bradley Ireland's Delayed if Spectacular Convergence; D.McCoy Convergence and Divergence of the European Union: Are the European Economies to be "Americanized"?; S.Kowalik Political Integration and Fiscal Federalism in the American Dollar Area and the Eurozone; S.Bukowski Toward an Efficient Labour Market Model in the EU: To Centralize or Not to Centralize?; W.S.Siebert ECONOMIC POLICY CHOICES IN EUROPE: PERSPECTIVE OF THE U.S. MODEL PERFORMANCE Discussion; J.K.Bielecki, J.Bradley, M.Goldman, S.Gomulka, R.Khasbulatov, A.K.Kozminski, W.A.Niskanen Conclusions Index