this post was submitted on 30 Jun 2025
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If you can understand Mandarin Chinese, this 3 hour debate between Justin Lin Yifu (neoclassical) and Zhang Weiying (Austrian school) from 2016 - widely popularized as China’s Keynes vs Hayek Great Debate - is everything you need to know about China’s industrial policy for the past decade.
Many prominent economists also voice their views quite openly. You just have to read the economy/finance section of Chinese newspapers to keep up.
How is the Austrian school still a thing? They openly say that their view of economics isn't experimental, i.e. it doesn't apply to the real world and is anti-scientific by definition. How do these people not get mocked out of any institution or debate?!
A large segment of rich people love them and thereby fund endless thinktanks to propagandize for them.