The Way of Simplicity: Economics for EMBA

Author: Chen Hui
Publisher:
Publish Date: 2004-01-01
Features: Chen Hui's point is that Deng Xiaoping said, "Poverty is not socialism, and socialism can also have a market economy." I think Deng Xiaoping is truly a great economist. He used two simple and straightforward sentences to summarize a very sharp and profound issue that people had debated for over a hundred years. We should follow this line of thinking to explore socialist economics. Of course, our answers are not yet complete, but this line of thinking cannot change. What is this line of thinking? First, the people should live a good life; second, a market economy. The emergence of "management shares" means that the interests of the owners of management factors are no longer reflected in wages but in profits. Monopoly is the enemy of the market economy, a form of corruption, and a form of market violence. Monopoly leads to technological stagnation and institutional corruption. Monopoly has no "good" or "bad" distinction. "Comprehensive well-being" is a concept with extremely high political wisdom. This goal first firmly answers the objections from the "left" and firmly denies the trend of "preferring socialist grass to capitalist shoots." This goal also firmly blocks the political tendencies of the right. What we want is "comprehensive well-being," absolutely not a society of polarization, where a small portion of the population holds most of the wealth while the majority have nothing. Chen Hui self-describes, "I am a trained Marxist economist, specializing in political economy, and graduated with a master's degree in industrial economics. I spent a solid 10 years on my undergraduate, master's, and doctoral studies, with no watered-down education in between. At the same time, I am not unfamiliar with foreign economics. I have studied in the United States and Japan and have a certain understanding of both. Whether it's Western or Eastern, I have a certain grasp of the corresponding theories. In our country's past development practices, I worked at the Development Research Center of the State Council, gaining some insights and experiences about the practical development situation."