Monetary Theory from a Chinese Historical Perspective
---- Acknowledgements -----
This paper is the first of a planned series examining the Chinese history of ancient economic thought in light of later Western thought. We regret to report the sad passing of the senior Chinese author on this paper. John Whalley from the non-Chinese side first met him in Beijing in 2002, and even with language difficulties the scholarly rapport and intellectual honesty and creativity was richly apparent. His pioneering work on Chinese history of ancient economic thought is being carried on by his students who are co-authors of this paper. This work is of importance in better understanding the Chinese policy response to the global issues of the day; the financial crisis, global warming and climate change. We acknowledge financial support from the Ontario Research Fund (ORF-F3), IDRC, and the Centre for International Governance Innovation (CIGI), Waterloo Ontario. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.