Topic - Ning Wang

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  • BOOK REVIEW: ‘How China Became Capitalist’

    A new book by Ronald Coase, age 101, is an event in itself. Mr. Coase, the 1991 Nobel laureate in economics, revolutionized the field by challenging conventional wisdom regarding the nature of business firms and how so-called public goods can be provided. One of his main contributions is the concept of "transaction costs," which are the costs individuals incur in making an economic exchange.

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  • On China -- where he draws heavily from Ronald Coase and Ning Wang's excellent book "How China Became Capitalist," published just last year -- he quotes P.J. O'Rourke, who once called China's success "the miracle of the zero baseline, as everything looks good if you start from nothing."

    BOOK REVIEW: ‘Heavens on Earth’ →

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