This book presents an analysis of Reagan's economic policy and its legacy both in the US and abroad.

Wojciech Bienkowski is Professor of Economics at the Warsaw School of Economics and Director of the US Economy Research Center, Poland. Josef C. Brada is Professor of Economics at Arizona State University. Mariusz-Jan Radlo is Associate Professor at the Warsaw School of Economics and Vice President for Research at the Polish Lisbon Strategy Forum at Gdansk Institute for Market Economics, Poland.

List of Figures

x

List of Tables

xi

Foreword

xii

William A. Niskanen

Leszek Balcerowicz

Preface

xv

List of Contributors

xviii

Acknowledgements

xx

Part I The US Economic Model

Section 1: Foundations of the US Economic Model

Lessons from America's Founding Fathers and US Experience

5

(7)

Steve H. Hanke

Lord Acton on the Origins of American Liberty and Prosperity

12

(16)

Krzysztof Lazarski

The Cultural Roots of the American Business Model

28

(16)

Malgorzata Durska

Constitutional Foundations of American Capitalism

44

(9)

Clifford A. Bates

Section 2: Character and Effectiveness of US Economic Policy

The Evolution of US Economic Policy in the 1980s

53

(11)

Steven F. Hayward

Economic Policy during the Clinton Administration

64

(5)

William A. Niskanen

The Economic Policy of George W. Bush: a Continuation of Reaganomics?

69

(16)

Wojciech Bienkowski

Part II Applicability of the US Economic Model

Section 3: The US Economic Experience and Its Applicability to Countries in Transition

Successes and Failures in Catching Up: the Post-Communist Case

85

(19)

Leszek Balcerowicz

The American Economic System: a Model for Poland?

104

(5)

William A. Niskanen

What Has America to Offer?

109

(5)

David Lipton

American Economic Experience: Russian Perspective, Possibilities and Limits of Application

114

(11)

Ruslan Khasbulatov

Why Russia Cannot Abide the American Economic Model: Round Peg/Square Hole

125

(12)

Steven Rosefielde

China versus the Orthodoxy: State and Ownership Reforms in Transition Economies

137

(18)

Jeffrey B. Miller

Stoyan Tenev

Section 4: The US Economic Experience and EU Economic Policies

Economic Reform in the European Union: Will the `Lisbon' EU Catch Up with the US?

155

(15)

Mariusz-Jan Radio

The EU Concept of Cohesion: Is It Compatible with the Anglo-Saxon Model?

170

(10)

John Bradley

Ireland's Delayed if Spectacular Convergence

180

(12)

Daniel McCoy

Convergence and Divergence of the European Union: Are the European Economies to be `Americanized'?

192

(13)

Tadeusz Kowalik

Political Integration and Fiscal Federalism in the American Dollar Area and Eurozone

205

(12)

Slawomir Bukowski

Toward an Efficient Labor Market Model in the EU: To Centralize or not to Centralize

217

(18)

W. Stan Siebert

Section 5: Economic Policy Choices in Europe: Perspective on the US Model Performance

Discussion

235

(21)

Jan Krzysztof Bielecki

John Bradley

Marshall Goldman

Stanislaw Gomulka

Ruslan Khasbulatov

Andrzej K. Kozminski

William A. Niskanen

Conclusions

256

(3)

Index

259

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