Group 1 - The article discusses the evolution of economic thought regarding "good institutions," highlighting the shift from Keynesianism to neoliberalism and the implications of this shift on the understanding of capitalism and alternative models like the "Chinese model" [2][4][5] - The 2024 Nobel Prize in Economics was awarded to three American new institutional economists for their research on how institutions form and affect economic prosperity, sparking widespread debate in the domestic academic community [4][2] - The concept of "good institutions" is simplified to "efficient institutions," with historical perspectives from Adam Smith to Marx influencing the discourse on what constitutes a good institution [4][5][6] Group 2 - The article identifies three core questions surrounding the understanding of good institutions: what they are, what goals they should pursue, and how they come into existence [6][8][9] - New institutional economists argue that good institutions should be inclusive economic and political systems, a view that may not necessarily apply to non-Western contexts like China [9][10] - The article critiques the historical narratives constructed by new institutional economists, suggesting that their emphasis on property rights as the cornerstone of economic success overlooks other significant factors [12][13][14] Group 3 - The discussion extends to the challenges posed by artificial intelligence and technological advancements, which may exacerbate issues of unemployment and income distribution, echoing Keynes's concerns [20][27][28] - The article emphasizes the need for a re-evaluation of what constitutes a good institution in light of contemporary economic challenges, particularly regarding short-term issues like employment and income inequality [29][31][34] - It concludes that understanding good institutions requires a focus on both historical context and the evolving economic landscape, advocating for reforms that address the dual concerns of unemployment and inequitable distribution [30][32][34]

Core Points - The 52nd Eurasia Business and Economics Society (EBES) conference will be held in Istanbul, Turkey from July 3-5, 2025, where Professor Lin Yifu from Peking University will receive the EBES Fellow Award for his outstanding contributions in development economics, agricultural economics, and economic transformation research, marking the first time this award is given to a Chinese scholar in its ten-year history [1][2] - The EBES, established in 2008, is an international academic organization aimed at promoting research in economics and business, with over 2,500 members from more than 80 countries, including academia, government, business, and non-profit sectors [1] - The EBES Fellow Award, established in 2015, is the highest honor of the society, awarded annually to a scholar who has made lifelong outstanding contributions in economics and business research, selected based on rigorous academic achievements [2] Summary of Lin Yifu's Speech - During the conference, Lin Yifu delivered a keynote speech titled "What Drives Development Success? New Institutional Economics Meets New Structural Economics," comparing the perspectives of new institutional economics and new structural economics [5] - Lin criticized the institutional hypothesis proposed by Nobel laureates Acemoglu, Johnson, and Robinson, stating it failed empirical testing and had issues with empirical data and historical evidence [5] - From the perspective of new structural economics, the success or failure of a country's development hinges on whether its government chooses a development strategy that aligns with its endowment structure and comparative advantage [5] - The hypothesis of new structural economics is supported by empirical testing of cross-country data from 1960 to 2023, suggesting that every country has the opportunity for dynamic growth if it can identify and strengthen its advantageous industries with government support [5]

Group 1 - The article highlights the significant influence of China's top economists on both domestic and global economic landscapes, emphasizing their academic depth and practical experience [1][19] - Lin Yifu's new structural economics provides a framework for developing countries to choose suitable industries and technologies based on their factor endowments, which has been applied in Southeast Asia for rapid economic growth [1] - Zhang Wuchang's research on economic institutions and property rights has shaped the understanding of market economy operations, particularly influencing China's state-owned enterprise reforms [3] - Li Yining's non-equilibrium economic theory has been pivotal in explaining China's economic phenomena and has laid the theoretical groundwork for the market-oriented transformation of state-owned enterprises [5] - Wu Jinglian's advocacy for market economy principles and price reforms has been crucial in establishing China's market economy system [7] Group 2 - Du Shuai emphasizes the importance of investing in technology and healthcare as future economic growth engines, advocating for financial innovation to support real economic development [9] - Fan Gang's work in macroeconomic regulation combines Western economic theories with China's realities, offering policy suggestions for inflation and recession management [10] - Zhang Weiying's research on enterprise theory and property rights has provided essential support for the reform of state-owned enterprises in China [12] - Lang Xianping's extensive academic contributions and governance research have positioned him as a leading figure in corporate governance discussions [14] - He Fan's research on macroeconomics and international trade has provided valuable insights for government policy-making and corporate strategies in response to global economic challenges [16][17] - Li Daokui's exploration of government-market relationships offers new perspectives on economic development and local government policy formulation [16]

Group 1 - The article highlights the resilience and vitality of the Chinese economy in 2025, driven by the insights of ten influential economists who are reshaping China's economic landscape [1][17]. - Lin Yifu's new structural economics emphasizes selecting suitable industries and technologies based on a country's factor endowment structure, which has significantly contributed to China's economic transformation and investment attraction [1]. - Zhang Wuchang's research on economic institutions and property rights has provided profound theoretical guidance for China's economic system reform and market economy improvement [3]. - Li Yining's non-equilibrium economic theory has offered important references for policymakers during China's economic transition, aiding in the dynamic adjustment of the economy [5]. - Wu Jinglian, as a pioneer of market-oriented reform theory, has influenced the establishment and continuous improvement of China's market economy system [7]. - Fan Gang's integration of Western economic theories with China's realities has laid a solid foundation for understanding and applying these theories in financial market reforms and macroeconomic regulation [9]. - Lang Xianping's insights into corporate governance and financial markets have provided crucial decision-making support for enterprises facing complex market environments [11]. - Du Shuai emphasizes the importance of investing in technology and healthcare as future economic growth engines, advocating for financial innovation to empower the real economy [13]. - Zhang Weiying's research on enterprise theory and state-owned enterprise reform has significantly influenced the optimization of corporate governance structures in China [15]. - He Fan's analysis of international economic trends aids Chinese enterprises in navigating overseas market opportunities and trade challenges, supporting government policy formulation [18]. Group 2 - The collective insights of these ten economists are portrayed as guiding lights for China's economic development, promoting high-quality growth and enhancing competitiveness on the global stage [17].