Is the U.S. Really Less Corrupt Than China? (Update)

In this episode of Freakonomics Radio, host Angela Duckworth interviews political scientist Yuen Yuen Ang about her book, "China's Gilded Age." Ang discusses the paradox of China's rapid economic growth despite high levels of corruption, arguing that the type of corruption—specifically "access money," akin to steroids for capitalism—has fueled growth but also led to inequality and financial risks. She introduces her "Unbundled Corruption Index" (UCI) to differentiate between petty theft, grand theft, speed money, and access money, suggesting that the U.S. and China exhibit different patterns of corruption. The conversation explores the historical context of corruption, comparing China's current state to America's Gilded Age, and delves into the complexities of measuring and addressing corruption in both countries, including the role of political systems and cultural differences. Ang also touches on China's economic model, Xi Jinping's anti-corruption efforts, and the potential for China to adopt its own version of a progressive era.