The state and the economy in late imperial China

Abstract

Non-development of a modern economy, the failure to begin modern economic growth, I am prepared to argue but that would require another article- is “over-determined.” It's not a particularly interesting theoretical question any more. Proponents of economic, political, cultural, social structural, demographic and other explanations have each adduced overwhelming arguments and evidence for their favored explanations. In fact, any one - or two - is a sufficiently mortal debility for the premodern economies and societies that they have studied. More is merely overkill. What we really don't know for sure yet is how modern economic growth begins - even in the case of Western Europe whose economic history has been minutely examined for more than a century. The common fate of most of mankind before the very recent past - slow and uncertain premodern growth of population and output where it occurred, stagnation or decline otherwise - has not (by historians at least) received attention comparable to the more fashionable problem of modern development, whether that be phrased as the Marxist “transition” from “feudalism” to “capitalism,” the neo-classical growth model, or the perhaps now somewhat faded study of “modernization.”