Toshinobu and political economy has many problems. (Lecture11/13/2017)The central

Toshinobu OkanoPoli113AProf. Victor Magagna12/10/2017Final Exam (Explain Confucian political economy)The political economy is the central problem of moral market in any civilization. Also, the moral market is the central problem of the political economy. When government conducts a policy about economy, it has to behave with moral. It need to consider about everyone who take disadvantage by the policy. Also, moral markets must not do without thinking about economy. If there are too many moral markets such as charity in the society, the economy of the society will not run in well. So, the relationship between moral markets and political economy has many problems. (Lecture11/13/2017)The central problematic of Confucian political economy is what stands for and stands against. In this case, the central problematic of Confucian political economy is not surprising from knowledge of the concept. The problem is the balance between efficiency and moral behavior. Furthermore, the balance of the profit, profitability, and proper order is the problem. Also, it is whether the moral market is feasible or just inefficient. Does it lead to bargaining the market with moral or political responsibility?East Asia became commercial civilization relatively early. The indication of this is the expansion of the market and political economy markets. The easiest way to indicate thecommercial civilization is market exchange such as Markets, money, and market measure “abacus”. (Lecture11/13/2017)Political economy calls the problem of moral markets. Confucian consensus describes very long elastic and other tradition, Taoism and Buddhism. It is automatically argued that it has major impact from western ideology believe system such as Marxism and laborism. It is debatable and easier for Chinese young elite to accept Marxism. Because it is resembled to as well as divergence from Confucian consensus on political economy. (Lecture11/13/2017)The Confucian consensus accept necessity of market. But they also believe more strongly modern economy, farmer, and people on modern economy, more it has risk potential. There is the real risk as a whole. The risk means that cause conflict, corruption, and paradoxes of rationality. Society has inherently necessity on goods. So, they can be source of conflicts between winner and looser, or rich and poor. Also, the commercial market generates wealth, money and income that became the base of corruption. It need resources to corrupt economy, politics, and culture. The other part of risk is paradoxes of rationality. It is rational decision-making in situations often has poorer payoffs or outcomes than choices made illogically or naively. The paradoxes of rationality underline the contradiction between intuition and reasoning. Actually, they do not believe these consensuses necessarily in current situation. (Lecture11/13/2017)Over the era, the Confucian became at home with the market or commerce today. This mean that more people are able to get enough outcome and reach enough profit from market. It is result in core policy consensus that is policy maker tend to follow for bureaucrat, real official, and ordinary people. It has necessity of market as well as the Confucian consensus. But that is subordination by government. Markets became objective to goal or achieve something. Also, theconsensus follows the household survival. It means that market should not result in breaking up the families and has to follow the proper order. The proper order has how, what, which and where set the dimension of do not want markets to especially interfere benefits, flourish, and hierarchy. (Lecture10/27/2017)The concept of Confucian political economic universes recognizes themselves that they are a distinct area of study, theory, practice, and practice. It can be translated to political economy. Economy can mean to part of large moral, virtue. They began to misunderstand that market is extension of household. It causes that they lose sight of profit, role of money. In short, political economy means how government relate to market and how it should treat the market. (Lecture11/13/2017)Next, what is the basic concept of Confucian political economy? The concept is convergence with and divergence from modern economy. Actually, there are western version and eastern version for it today. So, the question is how they converge with and diverge from modern theory of it.At first, the price formation was used for the convergence concepts. Confucian focus on the scarcity, demand, and supply for goods. They understood that price on market was not constant because of the scarcity, demand, and supply for goods. The prices were easily fluctuated with supply and demand. They researched how the scarcity connected to the relationship between supply and demand. (Lecture11/13/2017)The role of money as store of value and means of exchange is also the convergence factor of Confucian political economy. Money was simply implication of the value for ordinary people. It was possible for us to change items between people. Money indicate the value of the itemsimply. People do not need to exchange item and item. They can use money to get item. It made the world to thrive people’s business. However, government can induce to markets monetary inflation by means of money because usually the money was issued by government. In 1600s, there is the invention of paper money issued by State. The inflation will cause the loss of value of the paper money even though the government issued it for deducing taxes. (Lecture11/13/2017)At third, social opportunity cost affect to the convergence with Confucian political economy. Opportunity cost means that if they invest something, they cannot consume something else in many cases such as consuming and saving. They always have a choice consuming or saving. Social opportunity cost also has a choice invest or consume. If the government invest something, they cannot invest something else. Confucian understood that people tempted to consume too much than saving. Also, the investment by private person such as merchant directly affected to economic growth. Whether economy is bigger or smaller depends on investment and growth. (Lecture11/13/2017)Lastly, the incentive and economic behavior is one of the factor of Confucian economic economy. Confucian think that people behave more or less automatically without thinking. Or they response primary in terms of understanding of the act they faced. Elite regulation that regulated rule in elite, popular management, and form of tax could affect to economic behavior. For the incentives, some of them produced by government. It has positive and negative incentive in this situation. (Lecture11/13/2017)Negative incentives include perverse incentive in political science. Perverse incentive means that usually government policy designed to do one thing, however the incentive affect negative and perverse as opposite to people, black marker that people can buy something bycheap without government taxes and can buy the item prohibited by government in the illegal market, set up in between people. People that cannot pay the expensive tax and want to buy prohibited item go to the illegal market. As a result, regular market economy cannot run as government policy.More important thing for understanding incentive and economic behavior in Confucians political economy than the negative one is positive incentive, especially profit that is recognition of the legitimacy of the profit. In 1700s, Confucians understood that ordinary people including elite would peruse the profit. It has to be accept by everyone. It causes that much more civilization, more difference between rich and poor. they understood that it has to be accepted as part of economic behavior and government policy. (Lecture11/13/2017)Confucian political economy also diverges from modern economy. One area of divergence from modern is what most consumer in Unite States believe that is real utility. It means that the value might put as food such as hamburger, household items, clothing, and so on. They have different schedule of utility. As a result, in modern economy the value is the part of utility. It causes human preference. Regularly, ordinary people decade which want to buy big houses or small houses by economic values for these things. For the consequence, how people behave in the economy depends on the economic value. In this kind of economy universal is called to Human Preference. All human has this. It depends on advertising, real needs, and so on. Also, it reflects to Illusion theory of Buddhism. It explains it how they do receive everyday life, daily experiences.Confucian said that agrarian theory of value contemporary left the theory much larger satisfaction in Confucian tradition. Agriculture is the primary source of material value. More sense leads making living just more moral to others. But some way makes less moral that itwould be more moral way too. More moral ways that included deception that forced you to deceive people.Also, learning of living way is surely has how to work hard. It stock to high hierarchy. So, the economy has demand more farmer. The idea that some form of living, especially getting wealth, leads to be superior to others. Confucian political economy universe took shape as policy in terms of tradition status hierarchy that called Producerism. It ranked to scholar that include politician and formal elite, followed by farmers, artist, and lastly merchant. It did not cast but depends on evaluation and preferences. (Lecture11/13/2017)Highest status group involved most important work. Entire merchant in Confucian political economy do not make money because they do not peruse their profit. They just seen as involved manipulating prices or making clams about products that we can think about in modern society associative bad market behavior. Evaluation explains what is morally best or what is morally least and it is about performance you do.In the Producerism, most people do physical working. Deferent kind of group of people in the producerism make up society except criminals and bad people. All of them are honorable. But the former in the society has special place because they produce food and provide to the others, they do real work.Major point of divergence is moral market. The brief in material and moral incentive cause the divergence from modern market. These are the idea that people want to leave good materialize and the idea that they want to leave whole some materialized area. Also, it works at family situation. Then, they tend to believe they want to do cheat less and work harder. Theytend to consume less and save more as moral activity. It causes cutting taxes and more material to other people and themselves. (Lecture11/13/2017)The commitment to moral appeal as part of practice regulation in market. We see it in East Asian communist. Chinese communist and Vietnamese communist have strong incentive to overcome materialize circumstance in moral activity rather than Soviet Union. (Lecture11/13/2017)Making markets practically involves these three steps. One is embedding law and regulation in moral market, appealing to popular moral values, and voluntarism and market regulation. (Lecture11/13/2017)Embedding law and regulation in moral is that it can be often seen economic regulation as having some moral roots we do not want people to be cheated or taking advantage of. They evaluate wrong regulation that comes to the economy in terms of efficiency that leads profit and economic behavior. For making markets moral, Confucian makes one regulation as people do not have question of material efficiency and moral principle. One regulation should have very strong effect to market. Sometimes, it is seen as Producerism from ordinary people that it is kind of optimism.Appealing to popular moral value is to be balance in economic behavior and balance is center of Confucian political economy. Being thrifty is one of the example. It means that they do not consume too much and more saving. It is kind of the role of magistrate that try to engage moral management of people.Third step of making market as moral is voluntarism and market regulation. People will not act correctly even if they have correct incentives. It should be possible for government toregulate at many aspects not through regulation, but as voluntary action. Voluntarism connects to co-participating that government and people corporate together for common market can be themselves in social self-ordering.As lasting legacy of modern market, there are moral markets and market regulation. Some regulation of market was left in Confucian political economy. And social responsible wealth is still in Confucianism. Lastly, acceptance of market outcome and market logic is maintained. (Lecture11/13/2017)CitationVictor Magagna. (11/6/2017). Lecture 11 Nov 6 Monday. Political Science 113A East Asian Thought in Comparative Perspective. Fall 2017 Lecture11. Retrieved from Magagna. (11/13/2017). Lecture 12 Nov 13 Monday. Political Science 113A East Asian Thought in Comparative Perspective. Fall 2017 Lecture12. Retrieved from


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