November 28th to 29th, Unirule Master Thoughts Class(2015) 5th session was held in Beijing. This session was joined by Professor SHENG Hong, Director of Unirule Institute of Economics; Mr. MAO Yushi, Honorary President of Unirule; and Professor ZHANG Qianfan, Peking University. 
On the morning of November 28th, Professor SHENG Hong spoke on “Institutional Economics and China’s Reforms”. Professor SHENG Hong pointed out the development of institutional economics was institutional economics represented by John Rogers Commons, post-institutional economics represented by John Kenneth Galbraith, and new institutional economics represented by Ronald Coase, Douglass North, and Steven N. S. Cheung. The so-called new institutional economics applies the neo-classic methodology on economic research of institutions. The core elements include institutions, property rights, and transaction cost. The theory of contracts can not only explain the implementation of the policy of fix farm output quotas for each household, the termination of planned price system, and Chinese miracle. More generally speaking, it can be used to explained world history, for instance, the eradication of slavery was a result of the adoption and evolution of contracts. Besides, the theory of contracts also enhances the power of explanation of history and institutional evolution by economics. On the afternoon of November 28th, Mr. MAO Yushi spoke on “The Prospect of China’s Economics and Political Reforms― An Economics-Based Analysis”. Mr. MAO Yushi pointed out the importance of cultivating rational and logical thinking. Ever since the “May Fourth Movement”, China does not lack democracy, but scientific outlook. The reality and practice needs to be respected. China would do better without the coloured glasses of ideology, and with objectivity. 
Later on, Mr. MAO Yushi reflected on the path of the last 175 years’ struggle and development. Ever 1840, several revolutions had unfolded, up till the latest round of marketisation. Mr. MAO Yushi compared the two time period of 30 years before and after the opening-up and reform policy, and spoke highly of the achievements, as well as pointing out the ideological lagging. In terms of the 3 decades of tremendous changes, Mr. MAO Yushi explained the origin of wealth, the cause of growth, and the “exploitation”, the development of virtual economy, and the theory of general equilibrium. At last, Mr. MAO Yushi emphasised the importance of learning from the West. In regard to the prospect, Mr. MAO Yushi thought it was key to balance the outcome of globalisation and the values of justice and the significance of economic efficiency. On the evening of November 28th, 8 participants from the class were invited to have tea with Professor SUN Liping, Tsinghua University. 
November 29th, Professor ZHANG Qianfan spoke on “Constitutional Democracy as the Highest National Interest”. Professor ZHANG Qianfan pointed out that the emergence of China should be accompanied by the rise of constitutional democracy which was worth all our efforts. Topics such as the institutional crisis, moral crisis, and material crisis were discussed. Professor ZHANG Qianfan also attempted to provide solutions after analysing these crises from a historical point of view. Totally 2 Pages,Now on the 1 Page 1 2 |
