The Dig: China Boom w/ Ho-fung Hung
Jacobin Radio
00:00
The Relationship Between Market and Capitalism
A key puzzle of your book is why capitalism did not emerge spontaneously in 18th century China, which was the most prosperous and admired market economy. You write that a market economy is not inherently a capitalist one; nor does it automatically lay the groundwork for a capitalist take-off. What is the relationship between a market economy and capitalism? In academia, and in many people, conception, market and capitalism is the same thing,. But as French historian Braudel pointed out, they operate in different logics.
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