China's Economic Culture The Ritual Order of State and Markets

China's spectacular rise challenges established economic moulds, both at the national level, with the concept of "state capitalism", and at the firm level, with the notion of indigenous "Chinese management practices". However, both Chinese and Western observers emphasise the transitional nature of the reforms, thereby leaving open the question as to whether China's reform process is really a fast catch-up process, with ultimate convergence to global standards, or something different. This book, by a leading economist and sinologist, argues that "culture" is an exceptionally useful tool to help understand fully the current picture of the Chinese economy. Drawing on a range of disciplines including social psychology, cognitive sciences, institutional economics and Chinese studies, the book examines long-run path dependencies and cultural legacies, and shows how these contribute crucially to the current cultural construction of economic systems, business organisations and patterns of embedding the economy into society and politics.

Introduction 1. Culture, Ritual and Economic Style 2. The Chinese Ritual Economy as Historical Type 3. Institutions, Ideas and Ritual in the Modern Chinese Political Economy 4. Local State, Ritual and Territorial Competition 5. The Ritual Foundations of Markets 6. Chinese Enterprise, Organization, and Ritual 7. Conclusion – Deciphering the Chinese economic style

Carsten Herrmann-Pillath is a Research Professor of Economics and Evolutionary Sciences, Witten/Herdecke University, Germany, a Fellow of the Max Weber Center for Advanced Cultural and Social Studies, Erfurt University, Germany, and a Distinguished Visiting Professor at Tsinghua University, China.