The Logic of Markets (3rd Edition) Author: Zhang Weiying Publisher: Northwestern University Press

Introduction · · · · · ·
Why has humanity made much greater progress in the past 200 years than in the past few thousand years?

China’s economic achievements over the past 40 years have attracted worldwide attention. What are the key reasons?

What is the logic of the robber and what is the logic of the market?

What is good policy and what is bad policy?

Why is entrepreneurship the source of sustained economic growth?

Where is the future of China's economy?

…

Professor Zhang Weiying reviewed the history of world economic development, deeply analyzed the fundamental driving force of China's 40 years of economic take-off, pointed out the key factor of "market", analyzed the inherent and basic operating logic of the market economy, extracted many key factors related to the "market", such as talents, systems, policies, supervision, entrepreneurship, etc., systematically presented the internal connections and intricacies of each link, and pointed out the origin and future of China's 40 years of economic development and reform.

Professor Zhang Weiying is a witness and participant of China's economic reform, and a highly creative and revolutionary figure in the economics world. In his classic masterpiece, The Logic of Markets, there are many incisive and insightful judgments and profound insights that enlighten people. It not only inspires economic and management practitioners, but also provides great help and guidance for ordinary readers like us to understand the basic rules of social operation and see the situation and future of China's economic development.

The third edition has been completely revised based on the original updated edition, adding a 20,000-word article (Chapter 18), which specifically discusses "From Arbitrage to Innovation: Entrepreneurs and the Transformation of China's Economic Growth Model."