Shenzhen

Half a century ago at the University of California, Los Angels, Steven N.S. Cheung submitted his Ph.D. thesis, “The Theory of Share Tenancy”. Provocative and original, backed up by unambiguous empirical evidence, the Theory of Share Tenancy quickly launched its author to stardom and an extraordinary career. A prestigious post-doctoral fellowship at the University of Chicago came in 1967 (even before the thesis was finished); the same institution, a year later, made Cheung assistant professor of economics, only quickly lost him to…