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The Dig: China Boom w/ Ho-fung Hung

Jacobin Radio

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The Price Control in China in the 17th and 18th Century

In China in the 17th and 18th century, there were a lot of very successful wealthy groups. But some of them became too big and then persecuted by the state. So they are preemptively wise to invest their fortunes into the education of their younger generation so that they can prepare for bureaucratic careers. They will shift their reproduction of the elite status by shifting to a political bill, a credit card and become a political family. It's not like in Europe you see a lot of multi-generation financial and capitalist family that continue their family business of banking.

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