Checkers Or Chess? Facing State Capitalism — Part I

Law360, New York (April 15, 2011, 1:10 PM EDT) -- The expression “We’re playing checkers, while they’re playing chess” is often used to suggest that a more sophisticated game is being played by a more advanced player at the expense of an amateur player. This was certainly true for decades with regard to Olympic basketball — that is, until the U.S. got beat. However, could this also be true with respect to economic models used to organize economies?

The Development of State Capitalism

In 1998, Daniel Yergin and Joseph Stanislaw wrote "Commanding Heights: The Battle Between...
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