"Patient readers will be rewarded with a better and deeper understanding of the most extraordinary transformation in modern economic history." - The Wall Street Journal "As China is sure to become a hotly debated focal point in the presidential election, this book, with its emphasis on markets and history, becomes of paramount importance." - The Washington Times ... Read more "Anyone curious as to how China became the world's second biggest economy should read this interesting book." - The LSE Review of Books "This is a major contribution to the whole literature on economic change as well as on China. Nowhere in all of the literature on economic change and development that I know is there such a detailed study of the fumbling efforts of a society to evolve and particularly one that had as long and as far to go as China did." - Douglass C. North, 1993 Nobel laureate in Economics "Ronald Coase, now 100 years plus, and Ning Wang have written a compelling and exhaustive commentary about China's fitful transition from Socialism under Mao to today's distinctive capitalist economy. No student of China or socialism can afford to miss this volume." - Richard Epstein, University of Chicago Law School "This book is one of the greatest works in economics and in studies of China, not only for today, but for the future." - Chenggang Xu, University of Hong Kong "Coase finds a nation whose philosophy and policy have reflected the same simple principle - 'seeking truth from facts' - that has inspired his own path-breaking analyses of firms, markets and law. A fascinating and exceptionally thought-provoking account of how China, repeatedly seeking more efficient socialism, found itself turning capitalist." - Stephen Littlechild, Emeritus Professor, University of Birmingham, and Fellow, Judge Business School, University of Cambridge Show Less