China Boom w/ Ho-fung Hung
The Dig
00:00
The Relationship Between Market Economy and Capitalism
A key puzzle of your book isqte, why capitalism did not emer spontaneously in eighteenth century china. Let's start by reviewing how capitalism did emerge where it did in europe. In theories as to why that happened, you write that a market economy is not inherently a capitalist one. So before we get to the history, first, let's define some basics. What is the relationship between market economy and capitalism?
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