Logic of the Market An Insider's View of Chinese Economic Reform

Zhang, Weiying

ISBN 10: 1939709601 / ISBN 13: 9781939709608

Published by Cato Institute, 2015

About this Item

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Bibliographic Details

• Title: Logic of the Market An Insider's View of Chinese Economic Reform
• Publisher: Cato Institute
• Publication Date: 2015
• Language: English
• ISBN 10: 1939709601
• ISBN 13: 9781939709608
• Binding: Soft cover
• Condition: Good

About this title

Synopsis

First published in China in 2010, where it became a bestselling academic title, The Logic of the Market is a collection of well-known economist Zhang Weiying's most influential essays on Chinese economic reforms. Considered China's “leading market liberalist,” the author offers a unique perspective on the market economy, implementation of free-market economic policies, and the potential for Chinese economic development. He describes the market economy as “…humanity's greatest creation. It provides the best rules of the game for human progress,” and he believes it exemplifies the old Chinese proverb: “benefit yourself by benefiting others.”

The author believes that only the institutional arrangements of “private property, unhampered prices, enterprises, entrepreneurs, and profit” guarantee that in a market economy, “enriching oneself at the expense of others cannot be done.” In fact, he argues, it is this logic of the market that has led to China's recent unprecedented economic progress and prosperity.

About the Author

Weiying Zhang is a prominent Chinese economist and is Professor of Economics and director of the Center for Market and Network Economy of Peking University. He was formerly head of the Guanghua School of Management at Beijing University.