Stanford University Press has launched a new book: Making Money, How Taiwanese Industrialists Embraced the Global Economy. The book is co-authored by Gary G. Hamilton and Cheng-Shu Kao. Dr. Hamilton is Professor Emeritus in the Jackson School of International Studies at the University of Washington while Dr. Kao is Chairman of the Board of Trustees at Feng Chia University and Honorary Professor in the Department of Sociology at Tunghai University.
This book, drawing on over 30 years of collaborative research and about 800 interviews, tells the story of how Taiwanese businesspeople played a significant role in economics of Taiwan and the world from a historical and sociological perspective.
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The reviews are as follows:
"Hamilton and Kao are the only scholars who could tell such a comprehensive and in-depth story about Taiwan's export-oriented manufacturing sector from its 1960s origins to the present. They situate this seemingly small story in the context of Chinese business and culture, East Asian development, and the global political economy—illustrating why it is a big deal. A masterful contribution."
—Ho-Fung Hung, Johns Hopkins University, author of The China Boom
"This book shows a lifetime of engagement with the fascinating story of Taiwan's remarkable growth. Hamilton and Kao explore the symbiotic relationship between changes in U.S. retail and manufacturing developments in Asia. But the real story is in their vivid interviews with entrepreneurs, the real makers of the Taiwanese miracle."
—Stephan Haggard, University of California, San Diego, author of Pathways from the Periphery
"With Taiwan's role in the global economy mainly confined to contract manufacturing and component production—rather than selling brand-name products—the island's importance has gone nearly undetected. Even more invisible has been the role of Taiwan-based companies in China's "manufacturing miracle." This in-depth and authoritative study elevates Taiwan to its rightful position and, in doing so, reveals much about how the global economy actually works. Required reading!"
—Timothy J. Sturgeon, Massachusetts Institute of Technology
"Making Money strikes a rare balance between big ideas and rich case studies, brimming with detail. Hamilton and Kao skillfully argue for a new understanding of the East Asian miracle against the backdrop of the move toward a network-based, demand-responsive global economy. Taiwan sits at the epicenter of this shift. As this book shows, its contract manufacturing prowess provided the micro foundations for China's rise—and Taiwanese production networks are among the factors that will shape the Asian future."
—Gary Gereffi, Duke University
"For all those watching China's growth, this book deserves careful reading. We've seen it before—in Japan, South Korea, and in Taiwan, the country that Hamilton and Kao analyze. How is it that such a small country has played an outsized role in globalization over the past half-century? What role does Taiwan play in China's growth? The authors provide answers that will interest economists, political scientists, and sociologists alike."
—Robert C. Feenstra, University of California, Davis
"This book is essential reading for anyone interested in the tremendous changes in post–World War II capitalism, the way that American consumers and Asian producers have become inextricably linked. The authors make a compelling case that this transformation leads back to rationalization—on a global scale—in the name of the firm and its profits."
—Yun-han Chu, Academia Sinica and President, Chiang Ching-kuo Foundation
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