Hou proposes to end the dichotomous view of the state and the market, and capitalism and communism, by examining the local institutional innovation in three villages in China and presents community capitalism as an alternative to the neoliberal model of development. Community is both the unit of redistribution and the entity that mobilizes resources to compete in the market; collectivism creates the boundary that sets the community apart from the outside and justifies and sustains the model. Community capitalism differs from Mao-era collectivism, when individual interests were buried in the name of collective interests and market competition was not a concern. This book demonstrates the embeddedness of the market in community, showing how social relations, group solidarity, power, honor, and other values play an important role in these villages' social and economic organization.

Xiaoshuo Hou is an assistant professor of sociology at St. Lawrence University. Her research interests include the sociology of development, economic sociology, sociology of organizations, and the socioeconomic transformations in China. She has published extensively in h e Journal of Asian Studies , Theory and Society , Contemporary Sociology , Ethnic and Racial Studies , and Theory, Culture & Society. Currently, she is coediting the i ve-volume Wiley-Blackwell Encyclopedia of Race, Ethnicity, and Nationalism . She received her PhD in sociology from Boston University.