Corruption and Crisis: A Comparative Analysis

This chapter examines the economic implications of China's growth model, particularly in the context of the Evergrande crisis and its parallels with past American financial crises. It critiques the oversimplification of corruption through traditional indices and proposes an unbundled corruption index to provide a nuanced understanding of different corruption types. The discussion also highlights the complex interplay between government and capitalism, exploring how access money can simultaneously facilitate public goods and contribute to systemic risks.