Elusive Capital

‘The intrinsic value of Gipouloux’s Elusive Capital lies in an in-depth understanding of traditional China as a unique economic universe parallel to Western Europe. Apart from historians and economic historians, scholars from many other disciplines may also benefit from it, including economics, management, sociology, politics and international relations.’ – Kent Deng, The China Quarterly‘Examining the details of three major Chinese merchant groups between the 14th and 19th centuries, Professor Gipouloux compares and contrasts the Chinese model of wealth accumulation with the European model of capital concentration. The insightful archival analysis and references provide us with historical clues to discuss the contemporary world economy.’ – Hamashita Takeshi, University of Tokyo, Japan‘Few historical topics are as timely as late imperial China’s commercial economy, and few Western scholars have penetrated its mysteries as successfully as François Gipouloux. Read with pleasure his disclosures on such vital topics as brokers, maritime trade, Shanxi merchant operations, and capital movement, and feel grateful for his generous erudition.’ – Joseph P. McDermott, University of Cambridge, UK‘This book will not only be applauded as an expert’s contribution to the economic history of imperial China but will appear on the bibliographies of a growing community of global historians who wish to include Chinese commercial history as highly significant for our understanding of mercantile agency, institutions and developments for transitions to modern economic growth.’ – Patrick Karl O’Brien, University of London and London School of Economics, UK

François Gipouloux, Emeritus Research Director, Centre National de la Recherche Scientifique, École des Hautes Études en Sciences Sociales, Paris, France.