Confucian economics
How is Chinese thinking different
Bibliographic Data
| ID | 12917898 |
|---|---|
| Authors | Kazimierz Z Poznański (Seattle University, corresponding author) |
| Year | 2017 |
| Volume | 10 |
| Issue | 3 |
| Pages | 362-384 |
| Publication date | 2017-09-02 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | China Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 1753-8963 • E-ISSN: 1753-8971 |
| Publisher | Routledge (PUBLISHER • GB) |
| DOI | 10.1080/17538963.2017.1370170 |
| OpenAlex | W2755544283 |
| Language | EN |
| Citations received | 6 |
| References cited | 19 |
The Chinese have their economics. Not yet acknowledged, it is contained in the Confucian thought. Called by me ‘Confucian economics’, it sharply differs from the Western ‘Liberal economics’. Individuals seek posterity through offspring, rather than ‘instant gratification’. Resources are not seen as scarce but as abundant. Rather than take resources from others, people work to make a living. The work ethics and not the profit margin is a key motive. Individuals work not for themselves but for their family. The family is a source of moral sentiment, understood as responsibility for others. This is why the main institution is family and not market. To Confucians, the key principle is equality, which precedes efficiency. Inequality upsets ‘social peace’, as a precondition for growth. Built on Liberal principles, the Western capitalist system is a market one. The Chinese system, which I call ‘Confucian system’, is also market-based. The former is a ‘free market’ animated by individuals, the latter is a ‘familial market’ built around households. Both approaches advocate ‘minimal state’, but for Liberals the state is a ‘night watchman’ to ensure the security of resources, while for Confucians, the state is a moral guide to enable social harmony. As a theory, Confucian economics is a form of ethics and the Liberal is not. China has never abandoned Confucianism. The recent reforms are not about rolling back the Soviet model to establish a capitalist system. Relying on Confucian economics, China is reviving Confucian system. Paradoxically, the ancient Confucian economics has become the engine of China’s modernity. This is a key reason for China’s ‘longest boom’. To extend it, China needs to refocus its policies from ‘capital formation’ to the ‘moral cultivation’, along the Confucian principles
China · Economics · Modernity · Neoclassical economics · Political science · Sociology · Chinese history and philosophy · Culture, Economy, and Development Studies · Historical Economic and Social Studies · Law
Structure and change in economic history
The religion of China
A Treatise on the Family
The Effect of Language on Economic Behavior
The Great Divergence
Objective Knowledge
The Political Philosophy of Confucianism.
An Essay on the Principle of Population (1798)
The Social Responsibility of Business Is to Increase Its Profits
Confucian Political Ethics
The Political Philosophy of Confucianism
State condition, foreign influence and alternative models of market reforms in China, Russia and Eastern Europe
The china model
On Ethics and Economics
The Economic Principles of Confucius and his School
Intellectual Foundations of China
Why Do the Chinese Work So Hard
Growing Out of the Plan
| Unique citing works | 6 |
|---|---|
| Citations per year | 0,75 |
| Citation span | 2018 - 2025 (8) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 6 |