Frank Li — Adam Smith vs. Karl Marx

Frank Li is a Chinese ex-pat that settled in America after receiving a PhD in the US. He is an electrical engineer and entrepreneur.

His take is informed from both the Chinese and American (Western) points of view and he offers a reasonably objective analysis in comparison to the largely one-sided and ill-informed one that one generally encounters in the West. His work covers the social, political and economic spectrum but this one focuses on economics.

The dramatic rise of China over the past four decades not only has rocketed China's economy to the top of the world (in terms of PPP - purchasing power parity), with no end in sight, but also is ending western dominance over the past 200 years, at least.

What does that mean to the world? Everything, from politics (End of Democracy?) to economics!

This post is about economics. It highlights two giant economists: Adam Smith behind the West’s economy and Karl Marx behind Chinese economy....

econintersect
Adam Smith vs. Karl Marx

Frank Li | Chinese ex-pat living in the US

See also

Enter the dragon.

Sputnik International
China Wages Cold War Seeking to Replace US as Main Power - CIA Official

Branko Milanovic — A theory of the rise and fall of economic leadership: review of Bas van Bavel’s “The Invisible Hand?”

The recently published “The invisible hand?: How market economies have emerged and declined since AD 500” (Oxford University Press, 2016, 330 pages) by Bas van Bavel has, like all important books, a relatively simple core theory which Van Bavel, a well-known economic historian teaching at the University of Utrecht, illustrates on five historical examples: Iraq between 500 and 1100, Central and Northern Italy 1000-1500, the Low Countries 1100-1800, England 1800-1900, and the United States 1800-today. (The first three cases are discussed in detailed separate chapters, each running to 50-60 pages, while the last two, to which Western Europe may be appended, are discussed in a single chapter called “Epilogue”)....

Global Inequality
A theory of the rise and fall of economic leadership: review of Bas van Bavel’s “The Invisible Hand?”
Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace