Guanxi Economics: Confucius Meets Lenin, Keynes, and Schumpeter in Contemporary China

Artikel

The micro-foundations of the Chinese growth model are analysed within a comprehensive monetary theory of economic development, based on Schumpeter, Keynes, and the contemporary monetary Keynesians. The Confucian traditions and the Leninist party power structure are identified as the main specific traits of the social formation in contemporary China. In the capitalist mode of production, money sets the stage, and the interplay between private creditors and debtors is bundled into a coherent, dynamic whole by the central bank in the economic sphere and by more or less democratic institutions in the political arena. Combining the reproductive, care-taking traits of socialism with the entrepreneurial dynamism of private property and, above all, with the design and enforcement of overall social and economic coherence through the "vanguard" Communist Party makes an unique and ingenious institutional Chinese set-up. The constitutive character of Gu-nxi - the magic word for trust, confidence, reliability, righteousness, mutual benefit and cosmic order - for the working of the whole Chinese economic system is identified and described.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Intervention. European Journal of Economics and Economic Policies ; ISSN: 2195-3376 ; Volume: 05 ; Year: 2008 ; Issue: 1 ; Pages: 77-104

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Microeconomic Behavior: Underlying Principles ; General Aggregative Models: Keynes; Keynesian; Post-Keynesian ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; Socialist Systems and Transitional Economies: Political Economy; Property Rights
• Thema: China ; Chinese Communist Party ; economic growth ; transitional economy ; mode of production

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Nitsch, Manfred ; Diebel, Frank
• Ereignis: Veröffentlichung
• (wer): Metropolis-Verlag
• (wo): Marburg
• (wann): 2008

Weitere Informationen

• DOI: doi:10.4337/ejeep.2008.01.08
• Handle: http://hdl.handle.net/10419/277122
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ