Abstract
This paper attempts a character study of China’s economic system under Mao to uncover changes and continuities between Mao’s economy and post-Mao Chinese economic reforms. While some historical roots of China’s market transformation can be readily traced back to Mao’s era, it remains open to debate how Mao’s legacies were actually translated into institutional forces facilitating China’s transition to a market economy. In addition, the presence of such linkage leads us to ponder why Mao’s economy failed so miserably, particularly in comparison with the rapid rise of the Chinese economy in the post-Mao era.
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Articles in the same Issue
- Frontmatter
- Original Articles
- Why Economics Will Change
- Uncertainty: Blessing or Curse?
- The Chinese Economic System Under Mao
- Herbert Spencer on Corporate Governance
- Coase on the Coase Theorem, “The Social Cost Controversy”
- Marketplace for ideas
- On the Economics of the Division of Labor
- Wisdom of the Past
- Richard Whately on economics as the science of exchanges
Articles in the same Issue
- Frontmatter
- Original Articles
- Why Economics Will Change
- Uncertainty: Blessing or Curse?
- The Chinese Economic System Under Mao
- Herbert Spencer on Corporate Governance
- Coase on the Coase Theorem, “The Social Cost Controversy”
- Marketplace for ideas
- On the Economics of the Division of Labor
- Wisdom of the Past
- Richard Whately on economics as the science of exchanges