Economic Perspectives on China's Transformation

15min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The chapter delves into the speaker's contrasting economic opinions with Buchanan, Tullock, and Nutter, before shifting focus to the unique features of China's shift to a capitalist economy. It explores China's evolving economic landscape, including the role of the government, challenges in accurate economic measurement, predictions for future growth, and China's potential as an innovative, patent-driven economy.

Nobel Laureate Ronald Coase of the University of Chicago talks with EconTalk host Russ Roberts about his career, the current state of economics, and the Chinese economy. Coase, born in 1910, reflects on his youth, his two great papers, "The Nature of the Firm" and "The Problem of Social Cost". At the end of conversation he discusses his new book on China, How China Became Capitalist (co-authored with Ning Wang), and the future of the Chinese and world economies.