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An Anatomy of Failure – Wind Power Development in China - Ratio

PublikationArtikel (med peer review)

An Anatomy of Failure – Wind Power Development in China

Sammanfattning

China is currently the world’s largest installer of wind power. However, with twice the installed wind capacity compared to the United States in 2015, the Chinese produce less power. The question is: Why is this the case? This article shows that Chinese grid connectivity is low, Chinese firms have few international patents, and that export is low even though production capacity far exceeds domestic production needs. Using the tools of Austrian economics, China’s wind power development from 1980 to 2016 is documented and analyzed from three angles: (a) planning and knowledge problems, (b) unproductive entrepreneurship, and (c) bureaucracy and government policy. From a theoretical standpoint, both a planning problem and an entrepreneurial problem are evident where governmental policies create misallocation of resources and a hampering of technological development.

Grafström, J. (2021). An Anatomy of Failure – Wind Power Development in China. Quarterly Journal of Austrian Economics, 24(2), 317-347.

Liknande innehåll

Working Paper No. 385 The workload paradox: Will AI reduce academic labor?

Jonas Grafström

Publiceringsår

2025

Publicerat i

Ratio Working Paper Series.

Sammanfattning

Artificial intelligence is reshaping academia, but instead of liberating scholars, AI might keep them running faster just to stay in place. This paper theoretically explores how AI increases institutional expectations rather than reducing workload. Using a formal workload model, the study examines how automation affects academic tasks, revealing that while AI streamlines some processes, it also creates new responsibilities in research, publishing, and administration. A case study illustrates how scholars experience rising pressures to verify AI-generated work, adapt to changing publication norms, and meet intensifying institutional demands. The findings suggest that AI’s role in academia is not one only of simplification, but acceleration—a race where efficiency gains are quickly absorbed, where the pursuit of academic excellence becomes ever more demanding, and where scholars must continuously push forward, not to advance, but merely to avoid falling behind.

Working Paper No. 384 Vertical industrial policy: principles, practice and potential

Jonas Grafström

Publiceringsår

2025

Publicerat i

Ratio Working Paper Series.

Sammanfattning

This report investigates the rationale, implementation challenges, and evolving global context of vertical industrial policy, with a particular focus on Sweden. Against the backdrop of recent global crises—including the 2008 financial crisis, the COVID-19 pandemic, and geopolitical disruptions following Russia’s invasion of Ukraine—the analysis explores how governments have re-evaluated the role of state intervention to bolster economic resilience and strategic autonomy. The report distinguishes between horizontal and vertical approaches, where vertical policy targets specific sectors or technologies considered critical for national development, such as green technology, semiconductors, and renewable energy. Drawing on economic theory and empirical evidence, the report outlines the key justifications for vertical industrial policy, including market failures, coordination problems, and the under-provision of public goods. It also addresses the limitations and risks associated with such policies, including information asymmetries, rent-seeking, and political capture. A central contribution is a decision-making framework designed to help policymakers assess when vertical industrial intervention may be justified and how it can be designed to minimize inefficiencies and unintended consequences. While the report takes a cautiously critical stance toward vertical industrial policy, it acknowledges its potential when implemented with clear objectives, regular evaluations, and institutional safeguards. The analysis highlights the need for a balanced and flexible approach, especially in the context of green transitions and geopolitical fragmentation.

Working Paper No. 383 Insider activism in the forest industry: An empirical public choice analysis

Jonas Grafström & Nils Karlson

Publiceringsår

2025

Publicerat i

Ratio Working Paper Series

Sammanfattning

Insider activism—where bureaucrats use discretionary power to advance own ideological goals—has significant implications for regulatory stability and property rights security. Using the Swedish forestry industry as a case study, the purpose of this study is to investigate if insider activism affects the Swedish forestry sector and how such possible regulatory uncertainty influences economic decision-making. Assembled survey data suggest that forest owners perceive regulatory enforcement as unpredictable, leading to defensive actions such as premature harvesting to preempt restrictive future regulations. To explain these patterns, we apply public choice theory and a game-theoretic approach, demonstrating how bureaucratic drift, regulatory ratcheting, and time-inconsistency problems contribute to persistent distortions in forestry policies. Policy wise, the findings emphasize the need for judicial review, regulatory impact assessments, and clearer legislative mandates to reduce enforcement uncertainty and improve institutional trust. This research advances discussions on bureaucratic incentives, regulatory capture, and legal certainty in environmental policy.

Detaljer

Författare: Grafström, J.
Publiceringsår: 2021
Publicerat i: Quarterly Journal of Austrian Economics

Relaterat

Filosofie doktor och vice VD
Jonas Grafström
0703475854jonas.grafstrom@ratio.se