软预算约束与产业内卷
分析软预算约束机制如何在中国制造业和高科技产业中引发产能过剩、内卷及治理扭曲。
odus@odusChina’s Discounts and Three Paths: Why High-Profit Businesses Struggle to Survive in China
The New Three Products Price War；China’s Discounting and Profit Shredder
obiak@obiakSoft Budget Constraints: From Kornai to Jia Yueting, Incentive Distortions
Xu Jiayin and the three-high model of soft budget constraints；Comparing Jia Yueting and Xu Jiayin's soft budget constraints；Jia Yueting's incentive structure and soft budget constraints
obiak@obiakNg Shih-jung and Wong Kum-ching: the tragic bankruptcy of angel investors
Sun Yat-sen’s dead end in Penang and the Penang Conference；The bankruptcy and tragic fate of Ng Shih-jung and Wong Kum-ching
obiak@obiakSoft Budget Constraints: Ex-Ante Expectation Structure Rather Than Ex-Post Bailout Facts
The Tension Between Industrial Policy and Soft Budget Constraints；The Expectation Structure and Cost Shifting of Soft Budget Constraints
Sdreavmer@SdreavmerLow profits in the middle tier of industrial economies: four paths beyond mere monopoly-driven clearing
Solutions to the low-profit predicament of mid-tier companies in industrialized countries；The formation of the German-Japanese niche-market model and institutional safeguards
Sdreavmer@SdreavmerSoft Landing for Mid-Tier AI Enterprises: The Tension Between Short-Term Stability and Long-Term Attrition
Comparison of China-US AI Industry Models and Western Giant Stop-Loss Mechanisms
odus@odusInvolutionary Thrust: Capital Anxiety, Startup Leapfrog, and Humanoid Robot Specimens
Soft Budget Constraints vs. Corporate Efficiency；Price Wars and Overcapacity；Humanoid Robot Startup Leapfrog