- Copertina rigida: 256 pagine
- Editore: Palgrave Macmillan; 2012 edizione (20 marzo 2012)
- Lingua: Inglese
- ISBN-10: 1137019360
- ISBN-13: 978-1137019363
- Peso di spedizione: 581 g
- Posizione nella classifica Bestseller di Amazon: n. 519.662 in Libri in altre lingue (Visualizza i Top 100 nella categoria Libri in altre lingue)
- Visualizza indice completo
How China Became Capitalist (Inglese) Copertina rigida – 20 mar 2012
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'This is a major contribution to the whole literature on economic change as well as on China. Nowhere in all of the literature on economic change and development that I know is there such a detailed study of the fumbling efforts of a society to evolve and particularly one that had as long and as far to go as China did.' Douglass C. North, 1993 Nobel laureate in Economics
'This book is one of the greatest works in economics and in studies of China, not only for today, but for the future.' Chenggang Xu, University of Hong Kong
'Ronald Coase, now 100 years plus, and Ning Wang have written a compelling and exhaustive commentary about China's fitful transition from Socialism under Mao to today's distinctive capitalist economy. No student of China or socialism can afford to miss this volume.' - Richard Epstein, University of Chicago Law School
'Coase finds a nation whose philosophy and policy have reflected the same simple principle - "seeking truth from facts" - that has inspired his own path-breaking analyses of firms, markets and law. A fascinating and exceptionally thought-provoking account of how China, repeatedly seeking more efficient socialism, found itself turning capitalist.' - Stephen Littlechild, Emeritus Professor, University of Birmingham, and Fellow, Judge Business School, University of Cambridge
Descrizione del libro
This book will detail the origins and development of China's extraordinary market transformationVisualizza tutta la Descrizione prodotto
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At a 101 and not a man to avoid challenges, he now braces himself on an issue that many in the West are puzzled by -"How China Became Capitalist". Again, he brings clarity to a confused picture. Without embracing dogmas from either left or right, he traces the history of Chinese reforms from the rise of Deng Xiaoping to the present. In Coase and co-author Ning Wang's recounting and interpretation, we learn about the unleashing of China's experiment with capitalism. Rather than a top-down approach as many believe, the Chinese government fostered competition between cities and provinces; allowed for experiments and pilots to take place in certain sectors, industries and regions. China after Mao had a blank slate from which to experiment. Throughout this, Coase's work on property rights was critical to many Chinese policy makers. It is no coincidence that alongside Marx and Friedman, Coase is one of the most revered Western economists in China.
Coase is the finest of scholars. The Nobel committee (belatedly) understood his contribution as a thought leader, not just a servant of mathematical tools and creator of theorems. Teaching is much about pointing the obvious that surrounds us. That he has always done masterfully and does it again in "How China Became Capitalist". A must-read from anyone interested in economics, and in a clear analysis of Chinese political economy.
The pragmatism and political cunning of Deng is a key part of the story, but the authors also connect that pragmatism to continuing tendencies in Chinese history and thought. One of the striking observations is that the disagreements between Deng and Chun Yen opened up policy possibilities because there was no settled "line", just an agreed pragmatism. But the authors also examine how much of the story was of people at the margins taking opportunities presented to them also fed into the processes of institutional change.
This book is essential reading if you want to understand why and how China changed so profoundly.
The book could have done with some editing to eliminate repetitions and to meld the contributions of the two authors into a more homogeneous whole. Every now and then it is obvious where the historical detail gives way to fundamental economic teaching by the great Ronald Coase. But these are quibbles. It is a great book and obligatory read if you want to know why and how modern China has emerged, and if you want a dose of solid Austrian economics in action.
According to Professor Coase and Wang, the three-decade economic reforms in China are zigzag, arduous, and intermittent. First, Chinese state leaders had conflicting views (i.e. Deng Xiao-ping vs. Chen Yuan) towards level of state control over the free market (P.69). Second, deep-seated political ideologies such as Marxism and Maoism have handcuffed and deadlocked full-scale economic reforms led by the state (P.96, P.109, P.115). Third, inefficient state-owned enterprises and the complex centralized administration system are unfavourable to economic reforms (P.69). Fourth, top-down institutional change in factors of production, pricing and tax system, as well as ownership can be very risky to the state which has been long ingrained by the collective economy.
Professor Coase and Wang have maintained that this is not the well-established central planning system which results in effective economic reforms in China. Nor do they regard China state leaders as experienced in building market economy (P.152) and blind-followers of the capitalist economy. The success recipe of the three-decade economic reforms is contingent on a multitude of marginal revolutions (P.65) to start from below and specific regions before the new economic policy can be applicable to the whole country without causing any disastrous political and social consequences. Actors and institutions who have involved in these marginal revolutions encompass peasants (de-collectivization and household responsibility system in Sichuan province: P.46), entrepreneurs (the rise of township and village enterprises and individual economy in Wenzhou: P.58), and local governments and foreign investors (special economic zones in Shenzhen, Zhuhai, Shantou, and Xiamen, Industrial parks: P.63, P.140). These marginal revolutions turned out to be a great success and they are what Professor Coase and Wang has termed as the experimental and hands-off approaches adopted by the Chinese state leaders to reform the economy on the fault-proof formula of “seeking truth from facts”.
Both authors suggest that China might not drift towards the western model of capitalism (P.174) but sustainable economic development in China in the twentieth-first century depends greatly on how China state leaders can upkeep market reform and rules of morality (P.185). Comparing with other developed economies, China economy has demonstrated its fragility and weakness such as a dearth of Chinese brands in the global market, short on innovation and distinctive products, deficiency in education and legal system. The absence of a free market for ideas from education to law and politics can generate a malign effect on China’s economic growth and become an Achilles’ heel to China’s economic and social development in the long perspective (P.199).
This book is highly recommended to readers who are interested in having a better understanding of China’s breathtaking economic reforms and the complex process of institutional changes in the largest emerging country in the world.