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Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization (Hardcover)
Loot Price: R3,250
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Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization (Hardcover)
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The rise of China is no doubt one of the most important events in
world economic history since the Industrial Revolution. Mainstream
economics, especially the institutional theory of economic
development based on a dichotomy of extractive vs. inclusive
political institutions, is highly inadequate in explaining China's
rise. This book argues that only a radical reinterpretation of the
history of the Industrial Revolution and the rise of the West (as
incorrectly portrayed by the institutional theory) can fully
explain China's growth miracle and why the determined rise of China
is unstoppable despite its current 'backward' financial system and
political institutions. Conversely, China's spectacular and rapid
transformation from an impoverished agrarian society to a
formidable industrial superpower sheds considerable light on the
fundamental shortcomings of the institutional theory and mainstream
'blackboard' economic models, and provides more-accurate
reevaluations of historical episodes such as Africa's enduring
poverty trap despite radical political and economic reforms, Latin
America's lost decades and frequent debt crises, 19th century
Europe's great escape from the Malthusian trap, and the Industrial
Revolution itself.
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