Confucianism and Market Economy
The fast economic growth in East Asian economies has attracted much attention from the world to their background culture – Confucianism. Many, like Max Weber, think that Confucianism is not suitable for generating capitalism or economic modernization whereas others hold that the economic take-off and the economic miracle achieved in East Asia should be attributed to Confucianism. Too positive or too negative an attitude is not realistic. This paper focuses on the interaction between culture and economic development. It is becoming quite necessary to re-think and re-evaluate what elements of Confucianism and in which circumstances Confucianism would be conducive to the building of a market-oriented economy.
The study of the CEOs in five Chinese leading companies and the Confucian-values-based questionnaire survey in Haier, a leading company in home-appliances, reflect that Confucianism is still vigorous and influential in the business world of China today. Meanwhile, Confucianism is also being transformed in the course of their development. In this sense, the five successful enterprises have set up a good example in how to maintain the essentials of Chinese traditional culture while overcoming its backward aspects and let the past serve the present well.
KeywordsBusiness World Corporate Culture Confucian Ethic Chinese Traditional Culture Successful Enterprise
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