Commercial Institutions and Practices in Imperial China as Seen by Weber and in terms of More Recent Research

Title

Commercial Institutions and Practices in Imperial China as Seen by Weber and in terms of More Recent Research

Author

David FAURE

Page

71-98

DOI

10.6163/tjeas.2013.10(2)71

Abstract

Max Weber (1864-1920) is extremely important for the China historian who wants to understand the history of Chinese business. Yet, he was very wrong about China. However, the point is not to argue with Weber about China but to learn from his insights. Weber taught that meaning in action has to be sought in the subjective understanding of the actor, and, therefore, the means have to be created for human beings to calculate in anticipation of the results of their actions. In the history of business institutions, during the Ming dynasty (1368–1644), China arrived at bureaucratic professionalism, partnerships, means for pooling capital (including the accounting needed) and even a variation of the national debt in the form of the salt monopoly. The means for capitalism, therefore, arose quite early in China. Nevertheless, the Chinese imperial state abolished it and turned to patronage (the prebendal state). That particular turn had major effects on the development of banking, much to the detriment of Chinese business as steam technology arrived in China in the mid-nineteenth century.

Keyword

Weber, China, capitalism, Neo-Confucianism, calculability, steam engine, law

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