"How China Escaped Shock Therapy" explores the economic debates and decisions that shaped China's unique path of gradual marketization, avoiding the shock therapy approach that led to economic collapse in countries like Russia. It delves into the intellectual struggle between reform economists advocating for shock therapy and those arguing for experimental gradualism and the dual-track price system.
The target group for this book includes economists, scholars, and students interested in understanding the economic reforms and marketization process in China, as well as policy makers and business professionals seeking insights into China's economic model and its integration into the global economy.
Buy the bookChina's gradualist reform strategy upheld the structures of the old system while cautiously introducing market principles.
The ancient Chinese economic concepts of price regulation and market management: The Guanzi and the Salt and Iron Debate.
The Chinese Communist Party's stabilization of inflation in the newly formed PRC was a significant achievement
The Starting Point: In the late 1970s, China was grappling with the challenge of reforming its Maoist economy, which was characterized by strict price controls.
China entailed significant dialogue with international experts of varying ideologies.
Bringing policy into practice: The Dual-Track Price System.
The significant inflation crisis in 1988 was a critical turning point in the country's economic reform journey.
The reform transformed China from a primarily agricultural society to a global manufacturing powerhouse.
Isabella M. Weber's "How China Escaped Shock Therapy" provides an in-depth analysis of China's economic transformation in the 1980s. The book explores the intellectual struggle between reform economists who were divided on how to approach marketization. While some advocated for shock therapy, a sudden and drastic shift to a market economy, others argued for a gradual transition using existing socialist structures. The book reveals how China managed to avoid shock therapy, instead opting for a gradual marketization that allowed it to rise economically without fully assimilating to global neoliberalism.
Isabella M. Weber is an economist and Assistant Professor of Economics at the University of Massachusetts Amherst. Her research focuses on economic thought, policy, and development, particularly in relation to China's economic transformation.
Homo Deus is about the future of humanity and its potential transformation into a god-like species through advancements in technology, exploring the implications of this transformation on human society and values.
Alone on a Wide Wide Sea is a moving tale that follows the journey of an orphan boy, Arthur, who is sent to Australia after World War II. The book explores themes of survival, identity, and the search for family, intertwined with verses from 'The Ancient Mariner'.
The book takes you inside the minds of the first-century faithful and the leaders of the New Testament, providing context to their experiences, challenges, and triumphs. It is essential for anyone seeking an understanding of the New Testament in its early Christian context from a historical, literary, and theological perspective.
The book Capital in the Twenty-First Century (2013) is about the shocking reality of wealth inequality in our modern world. Through extensive research and analysis, Piketty uncovers the dangerous consequences of the concentration of wealth in the hands of a few, and offers bold solutions for a more just society.
The book "European Integration" traces the history of Europe's integration, highlighting how it has often progressed in crisis mode, with major crises leading to significant advancements. It also discusses the transformation of the European Union from a project of freedom to a project of security.
A Random Walk Down Wall Street provides insights into the stock market and investment strategies, arguing that buying and holding an index fund is more beneficial than attempting to buy and sell individual securities or actively managed mutual funds. It also explores the concept of a random walk, suggesting that short-term changes in stock prices are unpredictable and that investment advisory services, earnings forecasts, and chart patterns are ineffective.