Precious knowledge we do not import from China

We have known for years now that an experiment of historic proportions is under way in China. Its focus is on finding a stable equilibrium between governance by one political party, the Chinese Communist Party (CCP), without elections, separation of powers etc, and the free market economy. In particular, it is an experiment where the dynamism of freedoms associated with the private ownership of the factors of production (see Li, et al, 2004), and hence of the market mechanism, are regulated by the government in order to bring the expected benefits to the Chinese citizens themselves, and China. 

After four decades of adaptations to various conditions and parameters of the experiment, it is reasonable to wonder about the results. The answer depends on one's evaluation criteria. Based on the values and culture of a liberal, the experiment has failed miserably because, for...