Abstract
Although pre-modern China possessed rich ideas pertaining to economic matters, they were not separated from the discourse of morality and politics. Even in the late 20th century, Chinese thinking, often unconsciously, reflected traditional ideas. Liberal economics missed the chance to guide the modernization of China. Marxian economics established its monopoly under the reign of the Communists. However, China had Marxian economists who supported its gradualist transition to a market economy. In the 1990s, the task of guiding economic reforms in China was handed over to a new generation of economists who absorbed ‘Western’ (non-Marxian) economics.
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Yagi, K. (2018). China, Economics in. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2135
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2135
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