How Have Economy and Governance Evolved since 500 BC?
Chapter 4: The petty peasant economy and the formation of Chinese-style governmental governance
This chapter discusses the formation and consolidation of the petty peasant economy in Chinese history and the efficiency advantage, status, and impacts of it in Chinese economy and society. The author analyses its important institutional connection with Chinese governance using a long-term institutional framework, discusses its main characteristics and its impact on the inertial pattern of Chinese governance, and finally, draws the conclusion that the economic nature of centralized governance in Chinese history is an institutional equilibrium.
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