This book makes the bold attempt at proposing a new general theory of economic development. The main premise is that economic institutions and policies must embody ‘economic discrimination’ if there is to be any chance of real economic development. By economic discrimination, the author means ‘treating differences differently’ by selecting and supporting economic entities and behaviour that contribute positively to the economy. The book identifies markets, government and corporations as the ‘holy trinity of economic development’, that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. The book also warns against the current trend of economic egalitarianism or ‘not treating differences differently’ because it destroys economic incentives and results in an array of economic problems including growth stagnation.
State Capitalism offers an illuminating guide to the debate about contemporary state capitalism: does it simply use different tools from other variants of capitalism, or is it an altogether new kind of economic regime? Barbara Krug, a leading expert in this field, sets out to define the concept of contemporary state capitalism as an economic model and presents a nuanced view of state capitalism in action. She points the way to new areas for further study and analysis.
In the past two decades, China has experienced rapid industrial and economic growth. This fascinating book explores the unique Chinese business strategy of vigorous market entry and low prices, which has been the key feature of this accelerated industrial growth.
This book presents an analysis of betterment and compensation issues under the Land Use Rights
(LURs) System in China since 1988. The topic originates from the observation of widening inequity
and increasing uncertainty associated with the failure of government to adequately address
betterment and compensation issues. An analytical framework of institutions and property rights is
employed to examine socio-economic impacts under the LURs system, in particular, the role of the
state is analyzed to explore the effects of government intervention in land markets.
This illuminating book broadly addresses the emerging field of ‘diversity of capitalism’ from a comparative institutional approach. It explores the varied patterns for achieving coordination in different economic systems, applying them specifically to China, Japan and South Korea. These countries are of particular interest due to the fact that they are often considered to have developed their own peculiar blend of models of capitalism.