Chinese democracy: The lessons of failure

China's experiments with democracy in this century were few in number, short in duration, and limited in their democratic characteristics. Democratic institutions malfunctioned in numerous ways. Nine sets of causes for the failure of Chinese democracy can be suggested: ideology, internal and external war, military intervention, Chinese political culture, underdevelopment, a peasant mass, flaws in the design of Chinese constitutions, moral failures by democratic politicians, or the lack of transactional benefits for military‐based elites in the process of democratic transition. Each of these factors is reviewed critically with an eye to its possible lessons.     

International institutions and market expectations: Stock price responses to the WTO ruling on the 2002 U.S. steel tariffs

Many scholars assert that international institutions have little power to enforce laws, punish offenders, or force compliance. Others stress that international institutions are important actors, specifically in the regulation of international trade. In this paper, I show that the recent trade dispute over U.S. steel protection provides us with a critical case to evaluate the role of the World Trade Organization in settling trade disputes and specifically stabilizing expectations of market actors over future steel policy. I argue that stock prices can serve as an important tool in answering these questions. In an empirical analysis using daily steel stock prices, I find that during the 2002 WTO steel case, the WTO dispute mechanism helped market actors stabilize expectations of future trade policy.

I,Diarist: Examining Australian Politics from the “Inside”

Political diaries can claim literary, political and intellectual significance, yet they have rarely been subject to serious or extended enquiry. In this article we offer the first comprehensive survey of the Australian political diary. We also analyse these writings in some depth, suggesting that, taken as a whole, the diaries reveal three Weberian “ideal types” of the politician: the “patrician”, the “professional”, and the “radical”. These ideal types are used to shed a new light on the functioning and limitations of parliamentary democracy in Australia.     

Time for a New Paradigm? Past and Present Transitions in Economic Policy

This article seeks to place the UK's present economic ‘moment’ in historical context. Over the course of the decade since the 2007 financial crisis, it has increasingly been acknowledged that a cyclical crisis has become a structural crisis. The failure of most economists to predict the financial crash in the first place, and the inadequacy of economic policy in responding to its lasting effects, has led many to conclude that economics itself is in crisis. This article seeks to contribute to a better understanding of the present period of disjuncture. Drawing on theories of paradigm shift from both the physical and social sciences, we argue that the speed of change in UK economic policy is comparable to the two major historical transitions that ended with the post‐war consensus and neoliberalism. We conclude by offering some remarks on how and where the present change might take us.