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# Winter 2015 

Vol. 35 No. 1 

[ 

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Weiying Zhang on China’s transition to a liberal society; Randall G. Holcombe on political capitalism; Thomas H. Mayor on income inequality; and more...

##### Articles 

#### [The Power of Ideas and Leadership in China’s Transition to a Liberal Society ](/cato-journal/winter-2015/power-ideas-leadership-chinas-transition-liberal-society)

By Weiying Zhang 

#### [Political Capitalism ](/cato-journal/winter-2015/political-capitalism)

By Randall G. Holcombe 

#### [Thinking Ahead of the Next Big Crash ](/cato-journal/winter-2015/thinking-ahead-next-big-crash)

By George C. Bitros 

#### [Income Inequality: Piketty and the Neo-Marxist Revival ](/cato-journal/winter-2015/income-inequality-piketty-neo-marxist-revival)

By Thomas H. Mayor 

#### [The Impact of Economic Inequality on Economic Freedom ](/cato-journal/winter-2015/impact-economic-inequality-economic-freedom)

By Ryan Murphy 

#### [Welfare Economics and Second-Best Theory: Filling Imaginary Economic Boxes ](/cato-journal/winter-2015/welfare-economics-second-best-theory-filling-imaginary-economic-boxes)

By Richard E. Wagner 

##### Book Reviews 

##### [*The Rule of Nobody: Saving America from Dead Laws and Broken Government* by Philip K. Howard](/cato-journal/winter-2015/rule-nobody-saving-america-dead-laws-broken-government)

By J. Kennerly Davis Jr. 

##### [*Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change* by Edmund Phelps](/cato-journal/winter-2015/mass-flourishing-how-grassroots-innovation-created-jobs-challenge-change)

By Thomas A. Hemphill 

##### [*Falling Behind? Boom, Bust, and the Global Race for Scientific Talent* by Michael Teitelbaum](/cato-journal/winter-2015/falling-behind-boom-bust-global-race-scientific-talent)

By Daniel Kuehn 

##### [*Saving Congress from Itself: Emancipating the States & Empowering Their People* by James L. Buckley](/cato-journal/winter-2015/saving-congress-itself-emancipating-states-empowering-their-people)

By [Roger Pilon](https://www.cato.org/people/roger-pilon) 

##### [*The American Warfare State: The Domestic Politics of Military Spending* by Rebecca Thorpe](/cato-journal/winter-2015/american-warfare-state-domestic-politics-military-spending-rebecca-thorpe)

By [Christopher A. Preble](https://www.cato.org/people/christopher-preble) 

##### [*Boom Towns: Restoring the Urban American Dream* by Stephen J. K. Walters](/cato-journal/winter-2015/boom-towns-restoring-urban-american-dream)

By Richard E. Wagner 

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