Proceedings of the International Conference on Economic Management and Green Development (ICEMGD 2018)

The Analysis of Guantsu’s Advanced Economic Ideas

Authors
Wu Di
Corresponding Author
Wu Di
Available Online September 2018.
DOI
https://doi.org/10.2991/icemgd-18.2018.40How to use a DOI?
Keywords
Law of Demand and Supply, Monopoly Economy, Marketing and Taxes.
Abstract
This article introduces the concepts of law of demand and supply and monopoly economy, an all too familiar ideas to the today’s readers. But it had been put forth about 2600 years ago, by Guantsu, a Chinese economist and politician. He lived in a period around 700 BCE in China, otherwise known as the “Spring and Autumn Period.” During this period, China was in fact a country of many independent states. Wars were fought constantly among these states. Guantsu was the prime minister of a country called Qi. He played a critical role in strengthening Qi economically and politically by putting in place his economic ideas. As a result of his economic policy, Qi had become the strongest country in China. Specifically, Guantsu recommended that the emperor control certain products in Qi’s markets, which is the early model of “monopoly economy.” During the wars, food is scarce.
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Proceedings
International Conference on Economic Management and Green Development (ICEMGD 2018)
Publication Date
September 2018
ISBN
978-94-6252-579-5
DOI
https://doi.org/10.2991/icemgd-18.2018.40How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Wu Di
PY  - 2018/09
DA  - 2018/09
TI  - The Analysis of Guantsu’s Advanced Economic Ideas
BT  - International Conference on Economic Management and Green Development (ICEMGD 2018)
PB  - Atlantis Press
UR  - https://doi.org/10.2991/icemgd-18.2018.40
DO  - https://doi.org/10.2991/icemgd-18.2018.40
ID  - Di2018/09
ER  -