Differences Between Two Typical Forms of Economic Crises

Yanan Wang ()
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Yanan Wang: Xiamen University

Chapter 30 in The Basic Theory of Chinese Economy, 2026, pp 191-193 from Springer

Abstract: Abstract From a historical and socioeconomic perspective, both feudal and capitalist economies tend to experience crises or panics—either as recurrent episodes within their development or as outcomes of their internal movement. Feudal crises are typically driven by low productivity and strong dependence on natural and political contingencies, often appearing as shortages and subsistence breakdowns; capitalist crises, by contrast, are rooted primarily in the socioeconomic system itself and commonly manifest through market mechanisms as overproduction, credit contraction, unemployment, and cyclical recurrence. This section clarifies the distinctive logic of these two “typical” crisis forms and prepares the ground for analyzing the hybrid crisis pattern that emerges in societies undergoing the transition from feudalism to capitalism.

Date: 2026
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DOI: 10.1007/978-981-95-6330-2_30

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