The Construction and Logic of Markets and Property in China

Jointly presented by Yijia Publishing and Dudaoshe, after "Unspoken Rules" and "Blood Remuneration Theory," historian Wu Si launches his new masterpiece, "Top-Down Erosion," which comprehensively analyzes the underlying logic of the Chinese market and property rights through the theory of "officialdom-ism." What is "top-down erosion"? Wu Si coined this term to describe the fundamental dilemma faced by economic entities in a unified society where power governs resource allocation: incomplete property rights, fragile rights, and a graded market. Once top-level power intervenes, individuals and enterprises lack basic resistance and institutional safeguards. This situation is neither a free market nor a traditional planned economy, but a uniquely Chinese institutional structure where "power is embedded in the market." This book presents a structural diagram revealing how state power is embedded in market mechanisms, creating layers of obstacles in institutional arrangements, forming a "top-down erosion state" that is neither fully property-righted nor a fully free market. In this system, resources are institutionally graded, and rights are nested layer upon layer. State power, under the guise of "overall planning," continuously intervenes in economic activities through institutional taxation. Wu Si uses "officialdom-ism" to summarize this structural feature. He points out: "Officialdom-ism" inherited from China's ancient monarchical tradition, is an institutional system where state power comprehensively infiltrates social resource allocation and economic organizations. Through a whole set of institutional designs such as licenses, permits, quotas, ISBNs, and exclusive franchises, power can participate in the market in a taxation-like manner, shaping a market hierarchy with "clear grades and unequal status." He named it "graded market." This book is the first systematic depiction of "officialdom-ism" in the economic field. It profoundly reveals a market ecosystem where power is embedded, institutions are capped, and the bottom is fragmented, from the perspectives of property rights, market, resource allocation, and commodity pricing, helping us understand China's economic logic and property rights structure.

出版日期/Publication Date：March 20, 2025
出版社/Publisher：1 Plus Books
出品方/Imprint:
页数/Page: 250