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How China Became Capitalist (Inglese) Copertina rigida – 20 mar 2012

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Descrizione prodotto


'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
--Stephen Littlechild

Descrizione del libro

This book will detail the origins and development of China's extraordinary market transformation

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Amazon.com: 3.9 su 5 stelle 21 recensioni
29 di 30 persone hanno trovato utile la seguente recensione
5.0 su 5 stelle A Titan of Economics 22 maggio 2012
Di Rafael Limongi - Pubblicato su Amazon.com
Formato: Copertina rigida Acquisto verificato
Few scholars have changed the face of economics like Ronald Coase. His work brought a very rare commodity to the economics profession - clarity. His observations, based on empirical evidence and "old-fashioned" fact-finding, have unearthed a body of work that has transformed the way we think about simple, but crucial, facts. The ways individuals and firms organize and his work on property rights had a profound impact on how we comprehend issues from the inner working of organizations to the use of market tools to address environmental problems. On the latter, his work provide the academic underpinning for the establishment of the Acid Rain program in the United States in the early 1990s, which was so successful that it virtually wiped out the problem of acid rain in America.
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.
5.0 su 5 stelle Essential reading 13 ottobre 2014
Di M. Lorenzo Warby - Pubblicato su Amazon.com
Formato: Copertina flessibile Acquisto verificato
A clearly written, penetrating analysis of the transformation of China as both a "top down" and "bottom up" phenomenon. The authors analyse the transformation of China as a series of discovery processes, making some acute observations about the interaction between politics, ideology, history and institutions. Ronald Coase (1991 Nobel memorial Laureate in Economics), who was over a 100 when the book was published, was one of the most intellectually influential economists of the C20th. (Go through his fellow winners of the Nobel memorial Prize in Economics, tick off those whose seminal work was based on Coase's development of the concept of transaction costs; now find any other economist who started publishing in the C20th whose work has led to that many Nobel memorials. Then consider that his work has also been influential outside economics.)

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.
4.0 su 5 stelle At long last: the truth 25 maggio 2014
Di Wolfgang Kasper - Pubblicato su Amazon.com
Formato: Formato Kindle Acquisto verificato
When I first toured China (and Chinese industries and collective farms) in the early eighties, the future was uncertain, but hopes of reformers ran high. The messages were confusing and confused. Were there property rights? When would the next backlash against individual initiative begin? This book by Economics Nobel Prize winner (a man who had acquired one-hundred years of wisdom) and his Chinese associate makes it clear that the path from failing socialism to China's economic and cultural resurgence was anything by rationally planned. On the margin, markets emerged and set people free to prosper. On the margin, experiments like Shenzhen - going from fishing village to super-prosperous magnet for the young and enterprising in a few decades – were permitted to flourish. This combined with a non-ideological pragmatism: what worked in creating economic development was accepted by Beijing Centre. The book is insightful in explaining why China's economic renaissance has produced these astonishing results to date. The authors are also correct to point out that copying the ideas and technologies of the West will not carry China to developed-country status. What is needed now is competition in the market of ideas. Will the powerful party elites permit this?
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.
4 di 5 persone hanno trovato utile la seguente recensione
5.0 su 5 stelle Marginal revolutions and market of ideas are key pillars to economic growth 2 novembre 2013
Di Hubert Shea - Pubblicato su Amazon.com
Formato: Copertina flessibile Acquisto verificato
Economists and policy-makers have opined that the phenomenal economic growth in China for the previous three decades is due mainly to their well-established central planning system which is still favourable to the emergence and development of entrepreneurial activities with a well-balanced market mechanism. Besides, a plethora of the recent literature on China’s economy has attributed this phenomenal economic success to the concerted effort paid by the Chinese state leaders (i.e. Deng Xiao-ping) who have determined to transform China into a capitalist economy. In this book, Professor Coase and Wang have provided readers with a more in-depth analysis of how China can transform itself from a closed economy to an international economic nation.

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.
3.0 su 5 stelle but also pretty dry and textbookish 16 dicembre 2015
Di azmyth - Pubblicato su Amazon.com
Formato: Formato Kindle Acquisto verificato
It's very detailed and thorough, but also pretty dry and textbookish. I feel like it's written for someone who already has a pretty good idea of Chinese history rather than a newcomer like me.