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China has its own economics. It is the grand law that can be well applied to oneself, one's family, one country and the world, aiming for the well-beings of all. It roots deeply in the Chinese traditional culture based on complete understanding of the relationship between man and nature. The fundamental principle of it is kept in Chinese classics and passed down generations by generations through traditional Chinese education, i.e., a truly "inter-disciplinary" way that emphasizes complete and perfect self-enlightenment of one's own nature and the outside world. Therefore, it is named as "Chinese Classic Economics" in the book Chinese Classic Economics. In the book, the Chinese original classic economic theory is systematically introduced following a typical modern academic framework. Based on the book, this paper aims to present the main concepts and principles of Chinese classic economics. In summary, the cornerstone is the fundamental view that "nature and man are in One", which can be well supported by the development of modern physics. Based on this view, the theory perfectly synthesizes ethics within economics as that "virtue is the root while wealth is the branches". It unifies psychology, physiology and ethics and discloses how man's life is shaped by his very thought in mind, as goodness would bring happiness and badness would bring misfortunes. Based on this law, the Chinese traditional behavior economics is proposed, with altruism as the starting point and virtue capital playing the fundamental role. Moreover, by applying the very One principle to the management of the economy, the theory advocates a balanced Middle-way economy with both market and government right playing their own duties following the natural order. The principle of management is "to act naturally as if there is no-action", or "not to disturb". Hidden inside the marvelous Chinese traditional classic books and applied successfully to the glorious Chinese economic history, this theory well unifies nature and man, the natural ethics and economic phenomena, and sheds light on the modern economic researches.
Modern economics come from western countries. They are the mirrors of the economic conditions of these countries and the way they talk about economic phenomena is under the logic of western philosophy. But in fact, as a culture of long history, China has its own "e;classic economics"e;, though it hides behind modern context. The author re-discovers the Chinese classic economics from scriptures and historical records. This book not only contains the academic explanation of a long forgotten economic theory system but also offers us a new prospect to understand the modern world.This area this book covers is unique and totally new. People always consider economics is rather young. But in fact, economic thoughts, which influenced by many different aspects, exist for a long time. This book tries to re-discover the long hidden economic thoughts in ancient Chinese culture. It provides us a new way to understand the model and the unique patterns of modern China's economic behavior.Whenever we refer to economics, whether economics of Adam Smith, Keynes or even Karl Marx, we are always referring to something "e;western"e;. There are few books talking about the economic thoughts in ancient China. This book has few competitors. It will appeal to a worldwide audience of students and scholars of economics.This area this book covers is unique and totally new. People always consider economics is rather young. But in fact, economic thoughts, which influenced by many different aspects, exist for a long time. This book tries to re-discover the long hidden economic thoughts in ancient Chinese culture. It provides us a new way to understand the model and the unique patterns of modern China's economic behavior.Whenever we refer to economics, whether economics of Adam Smith, Keynes or even Karl Marx, we are always referring to something "e;western"e;. There are few books talking about the economic thoughts in ancient China. This book has few competitors. It will appeal to a worldwide audience of students and scholars of economics.
The Economic Principles of Confucius and His School is a unique work. The author, Chen Huan-Chang, was a civil servant in the last years of the Qing Empire. After a traditional education in classical Chinese, Chen befriended and became a student of the great reforming scholar and leader Kang Yu-wei, who deepened and broadened his knowledge of Confucianism. Finally, he went to the USA and took a Ph.D. in economics at Columbia University, studying with such noted names as Edwin Seligman and John Bates Clark, producing his Ph.D. and this book in the very year of the collapse of the Chinese Empire, 1911. Uniquely, Chen was trained in both classical and reformist Chinese schools and Western economic thought. It is from this perspective that he produced The Economic Principles of Confucius and His School, a meticulous comparison and contrasting of classical Chinese and classical Western economic doctrines. His reformist position means that he does not automatically defend Chinese doctrines, yet he considers them to be strong and important and does not advocate their replacement with Western models of thought, as some other Chinese reformers of his day did. This two-volume work gives an extremely detailed account of economic thinking in China before the 1911 Revolution. Chen includes not only the Confucians but also accounts of Daoist, Mohist, Legalist and many other schools. Even today, no other study of this depth has ever been produced in English, and much of what Chen describes is still highly relevant in modern times.
An insightful account of the remarkable transition of the Chinese economy from impoverished backwater to economic powerhouse.
This volume comprises twelve papers written by Chinese scholars on various aspects of the history of ancient Chinese economic thought. The contributions are preceded by an introduction which gives an overview of the development of the subject of history of economic thought in China, and which also provides an historical context to the individuals who constitute the major "schools" of ancient Chinese economic thought. The authors of the papers are leading scholars who have dominated this research area since the founding of New China in 1949, while the broad range of topics covered by the contributions includes questions of methodology, detailed and sometimes controversial interpretations of texts and "schools", and the international influence and modern relevance of ancient Chinese thought. A recurrent theme is that ancient Chinese thought has at least as much to offer to the historian as ancient Western thought. As the first such volume of papers to be translated into English, this collection provides a unique opportunity for non-Chinese readers to sample the way in which Chinese historians of economics have attempted to understand their own intellectual heritage. This book will be relevant to scholars interested in the history of economic thought, economic history and Chinese studies.
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ... (6) Columns for Discount on Purchases and Discount on Notes on the same side of the Cash Book; (c) Columns for Discount on Sales and Cash Sales on the debit side of the Cash Book; (d) Departmental columns in the Sales Book and in the Purchase Book. Controlling Accounts.--The addition of special columns in books of original entry makes possible the keeping of Controlling Accounts. The most common examples of such accounts are Accounts Receivable account and Accounts Payable account. These summary accounts, respectively, displace individual customers' and creditors' accounts in the Ledger. The customers' accounts are then segregated in another book called the Sales Ledger or Customers' Ledger, while the creditors' accounts are kept in the Purchase or Creditors' Ledger. The original Ledger, now much reduced in size, is called the General Ledger. The Trial Balance now refers to the accounts in the General Ledger. It is evident that the task of taking a Trial Balance is greatly simplified because so many fewer accounts are involved. A Schedule of Accounts Receivable is then prepared, consisting of the balances found in the Sales Ledger, and its total must agree with the balance of the Accounts Receivable account shown in the Trial Balance. A similar Schedule of Accounts Payable, made up of all the balances in the Purchase Ledger, is prepared, and it must agree with the balance of the Accounts Payable account of the General Ledger." The Balance Sheet.--In the more elementary part of the text, the student learned how to prepare a Statement of Assets and Liabilities for the purpose of disclosing the net capital of an enterprise. In the present chapter he was shown how to prepare a similar statement, the Balance Sheet. For all practical...
The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.