This book is about mutual influences of thinking about economic development in China and in the West, from the 18th century until the present. Its chapters are contributed by development economists and historians of thought from China and other parts of the world. The book describes important...

1. Introduction / Ying Ma and Hans-Michael Trautwein -- 2. Physiocracy and the Chinese model / Stefan Gaarsmand Jacobsen -- 3. The reception of Adam Smith in East Asia / Qunyi Liu -- 4. Commodities, natural resources, and growth / Mauro Boianovsky -- 5. Yan Fu, individualism, and social order /...

In the 1960s and 1970s Harrod shifted the emphasis of his research in economic dynamics from the study of business cycles (instability principle) to the investigation of the growth process. As part of that, he restated his concept of the natural growth rate as an optimum welfare rate. The...