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Prof. Feng Xingyuans English Thesis Published on International Journal on World Peace
Time:2011-03-21 14:13:31   Clicks:

One of Prof. Feng Xingyuan's English academic theses, "Re-interpreting the 'Chinese Miracle,'" was published on International Journal on World Peace (No.3, 2011). This magazine is included in international SSCI.

Based on North's theory of institutional change and Hayek' theory of institutional evolution, this thesis analyzed flaws in current explanation of "Chinese Miracle," and proposed an evolutionary analytical framework on the manifold causes of "Chinese Miracle."  In the thesis, Hayek's analysis on spontaneous orders and constructed orders was reviewed, his analysis on piecemeal construction and total construction was further distinguished, and a trichotomy framework of economic order was proposed, namely, spontaneous order, piecemeal construction and total construction. This thesis attributed China's economic success since its reform and opening-up to spontaneous order and piecemeal construction, the main idea of which is what Hayek calls "division of knowledge and the compatibility of economic freedom."

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