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How China Became Capitalist

4.21  ·  Rating Details ·  62 Ratings  ·  7 Reviews
How China Became Capitalist details the extraordinary, and often accidental, journey that China has taken over the past thirty years in transforming itself from a closed agrarian socialist economy to an indomitable force in the international arena. The authors revitalize the debate around the development of the Chinese system through the use of primary sources. They persua ...more
Hardcover, 272 pages
Published April 15th 2012 by Palgrave Macmillan (first published 2009)
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"It is obvious, but How China Became Capitalist is worth reading not only because it was Ronald Coase's last major work, but also because it is an intriguing and unconventional account of recent Chinese history. The move toward capitalism in China is perhaps the biggest global story of the past four decades, and Coase tells it in an approachable and insightful way. The punch line -- that the revolution was not top down but rather bottom up, or, as Coase tells it, the product of many 'marginal re ...more
May 20, 2013 时间的玫瑰 rated it really liked it
Sakshina Bhatt
Dec 13, 2016 Sakshina Bhatt rated it really liked it
This is an excellent dissection of China's unintended successful evolution from a Communist economy to a Capitalist one. It transitions through mainly the pre-Mao, Maoist and post-Mao era, and the development that took place thus far via trial and error, or "practicing to seek truth," as it is deemed in the book.
It is an informative historical account, enlisting corresponding cause and effects of events that shaped the Chinese economy to one that's expanding rapidly - a result of their long his
Sep 05, 2014 Ajit rated it really liked it
This is a terrific book on China's transition to a capitalist economy. Ronald Coase, winner of the Economics Nobel, brings his considerable understanding of institutional economics to the subject matter and combines it with detailed information of the changes that took place in China after the death of Mao. Mao's "let a hundred flowers bloom" was a fake slogan which did not usher in any genuine changes in China. But, from the mid-1970s onward, under Deng and other Chinese leaders, genuine experi ...more
Dana Shaat
Dec 06, 2012 Dana Shaat rated it really liked it
VERY interesting if you are interested in transitioning economies. It can be a little technical but it is very informative. Coase and Wang did a GREAT job making it as easy to read as possible.
For people interested in the details of China's transition from communism to capitalism, definitely a MUST read.
One criticism though, the book needed editing. The editor did not do a good job at all.
Andrew Hallot
Dec 09, 2015 Andrew Hallot rated it it was amazing
Eloquently explains the pitfalls of Mao's central planning model. Describes, in depth, the various stages and eventual overhaul of China's political, social and economic system. A must read for anyone interested in Asian politics/markets or the transition of economies.
Adam Gurri
Oct 02, 2014 Adam Gurri rated it it was amazing
This is one of the most inspiring stories of our time, and Coase and Wang tell it with as much insight and nuance as you would expect.
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Ronald H. Coase passed away on September 2, 2013, at the age of 102.

At the time of his death, Professor Coase was the Clifton R. Musser Professor Emeritus of Economics at The University of Chicago Law School.

Ronald H. Coase’s 1937 paper “The Nature of the Firm” was to establish the field of transaction cost economics. “The Problem of Social Cost,” published in 1961, sets out what is now known as t
More about Ronald H. Coase...

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