The Research On Private Capital In The Han Dynasty

The basic meaning of private capital is that the non-government owned capital.It is a definition of capital from the perspective of ownership as opposed to "national capital".As an important part of the total social capital in the Han Dynasty,the private capital's investment structure and mode of operation,its relationship with the state and society in the Han Dynasty,and its basic characteristics are all important research topics in the economic and social history of the Han Dynasty.The private capital in the Han Dynasty invested in all the three major industries.The private capital in the Han Dynasty mainly used the methods of slaves cultivation,leased land for poor people,wage labor for farming and direct investment in land to invest in the crop farming.According to different industry characteristics and size of the capital,there were different ways of investment to the handicraft for the private capital in the Han Dynasty.There were three ways for the private capital in the Han Dynasty to invest in the commerce:sideline,specialized management and hoarding.For the mortgage loan industry,the private capital in the Han Dynasty mainly used credit loan and mortgage loan to invest.In addition,private capital also had investments in other service industries such as transportation.Overall,the investment structure of private capital in various industries in the Han Dynasty was dominated by agriculture,but the structure was not static.The industrial structure dominated by agriculture in the Han Dynasty restricted the investment of private capital from both the market and the spending power.The investment structure of private capital formed under such dual constraints,in turn,strengthened the economic structure of the Han Dynasty.In the Han Dynasty,private capital achieved the purpose of its investment by putting the four production factors of land,labor force,capital and entrepreneurship into the production process.Each factor of production had its own channel.For the land factor,the private capital in Han Dynasty mainly obtained by the merger though means of economic or non-economic.For the labor factor,they mainly had three ways of getting factors which were using its own elements,employing the labor force and purchasing the slave.For capital elements,there were two channels to get currency capital which were power channel and economic channel.And there were also two ways to get physical capital which were using their own capital and buying from the market.And for entrepreneurship,this factor was obtained through long-term investment in human capital.In the Han Dynasty,private capital usually entered into contracts to ensure the interests of both parties during the transaction.Retail transactions generally used verbal contracts,while cross-term and real-estate transactions used written contracts.The writing rules of the written contract in the Han Dynasty were more perfect,and there were corresponding provisions from the contract form to the implementation process and the breach of contract punishment.In the process of production and operation,the private capital in the Han Dynasty adopted the form of advertisement to promote and advertise its own products.There were several forms of advertisement:physical advertisement,sound advertisement and text advertisement.In the process of financial management,private capital in Han Dynasty should adopted the accounting method similar to that of official accounting,which included the collection and consolidation of accounting documents,accounting information processing and output process.In this process,they also produced a rudiment of double-entry bookkeeping method.The interaction between private capital and country in Han Dynasty had different modes according to the difference of the state of possession of resources.In the case of resource dominance,private capital in the Han Dynasty adopted a more active form to express their own interest demands and realized their own interests.On the contrary,private capital in the Han Dynasty showed its attitude of adaptation and adjustment.The Han Dynasty adopted the strategy of restraining and utilizing to private capital,and its utilization of private capital ware mainly reflected in the two aspects:financial supplement and public goods supply.The conflict between private capital and state capital in the Han Dynasty was directly reflected in the competition for market share.The deep-seated contradictions lied in the difference between the two modes of resource allocation.The underlying logic of the many modes of interaction between private capital in the Han Dynasty and the state and state capitals in the Han Dynasty was the delimitation and transgression of political rationality and economic rationality.The influence of private capital on the urban society in Han Dynasty had both positive and negative effects.Positive impacts reflected in several aspects such as the product supply,material flow,stimulates consumption,providing employment.Negative impacts were mainly to disturb the social order and contribute to extravagant atmosphere.After mastering the rural areas' main means of production through the rural market,the private capital in the Han Dynasty began to influence and controls the living environment of the rural residents.Apart from the influence on the urban society and the rural society in the Han Dynasty,private capital also influenced the interaction between urban and rural areas in the Han Dynasty.This impact on urban-rural interaction had two parallel lines:the economic aspect was the city's drawing and feedback from the rural areas,while the order aspect was the infiltration and encirclement of the rural areas to the cities.At the same time,the private capital also gradually changed the social concept of the Han Dynasty.The flow of private capital between urban and rural areas in the Han Dynasty showed a clear structural characteristic.This structural flow of private capital in the Han Dynasty exerted a significant influence on the generation and the subsequent decline of the social liquidity structure of the Han Dynasty.In the process of investment management and interaction with the state and society,the private capital in the Han Dynasty mainly showed the following basic characteristics:motivated by the profitability of investment;marketability and dependence co-exist;the clarity of the boundary of external property rights coexists with the internal centralized ownership structure;risk avoidance preferences.There were four major differences between private capital and state capital in Han Dynasty:property structure,business purposes,product flow and business model.Utilization and protection of private capital by Han Dynasty country was for the purpose of utilization,so there were obvious limitations in these protections.During the interaction with the Han Dynasty country,private capital in the Han Dynasty had compromised,but also struggled and resisted.The private capital in the Han Dynasty made great progress on the basis of inheriting the previous generation.The relationship between its investment structure and the economic structure dominated by agriculture in the Han Dynasty had influenced the entire Chinese ancient society.The development of private capital had formed the first pinnacle title Han Dynasty.Regrettably,this was also the last pinnacle in the development of private capital in ancient societies.