The Exhaustion of Developmental Socialism: Lessons from China

  • Clifford DuRand
Keywords: History, Imperialism, Marxism

Abstract

A funny thing happened on the way to market socialism. China started in that direction over a decade ago, seeking to rejuvenate a stagnating economy by basing production decisions on market forces rather than central planning, while regulating the newly-created market in the name of overall social interests. The latter was to give a socialist character to the new system they called "socialism with Chinese characteristics.'
Published
1990-12-02
Section
Articles