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China’S Ancient Principles Of Price Regulation Through Market Participation: The Guanzi From A Comparative Perspective, Isabella Weber
China’S Ancient Principles Of Price Regulation Through Market Participation: The Guanzi From A Comparative Perspective, Isabella Weber
Economics Department Working Paper Series
The History of Economic Thought as a field has long taken it as a premise that so far as ancient economic thought is concerned, only the Greeks and Romans are worth studying. This paper introduces the Guanzi as a core text in ancient Chinese economic thought on price stabilization from a comparative perspective with ancient Greek contributions. The Guanzi presents a framework for the empirical analysis of market fluctuations and price movements and derives principles of economic governance from this analysis. In contrast Plato and Aristotle come to the question of price determination from the angle of moral philosophy. They …