Yan Fu's Economic Thought

YanFu, who understood China and the West deeply, contalted the theories of the West with Chinese actualities in notes when he translated the books of the West. He drew some distinctive conclusions, which made his economic ideas of liberalism known. On this basis, YanFu studied a lot of problems, such as the essentials and the nonessentials, obligation and benefit, thriftlessness and thrift, monopoly and competition, land, powder and funds, taxes, accumulate and comsume, foreign trade, state debt and so on. What was worthy of respect was that he found the spots connected the West with China. My thesis will analyse the economic ideas of YanFu.YanFu,s economic ideas of liberalism were completely different from Chinese traditional system of enfeoffment. In order to turn the economic ideas of liberalism into reality, China must change reality. The ways were improving the people's bodies, heads and morals.To obligation and benetit, YanFu thought the two must be connected, can't be seperated. About the essentials and the nonessentials, they were the same important, the country should make the people have their own lands, make industry and trade develop freely. About thriftlessness and thrift, YanFu thought what could prouce and raise was named "thrift," on the contrary, was named "thriftlessness".YanFu thought the land, powder, funds which were connected could produce money, China was lack of funds. China should develop economy by borrowing the funds from other countries.YanFu divided the competition into two kinds. One should compete freely, the other should monopolize.YanYu thought taxes were improved, the national income also should make progress. But China was still poor. The reason was that the government was not good at dealing with the money. He talked about the standards of taxes.YanFu had a high regard for the West knouledge. He talked about theusefulness and ways that the knowledge was to the economy of China.Drawing a conclusion, we can realize why YanYu was regarded as a great thinker in China's history.