Stiglitz and the Economics of Transition

Author: Mao Zengyu
Publisher:
Publish Date: 2005-09-01
Features: This book places Stiglitz's theory of transition economies within the two frameworks of "radical transition" and "gradual transition," thereby providing a theoretical and practical background to identify the unique character of his transition economy theory—"The Third Way Economics," which is highly creative. The author summarizes the core idea of this approach as a balance between "developed markets and a strong government," a generalization that offers valuable insights for us to consider how to handle the relationship between markets and government. The book Stiglitz and Transition Economics was completed by the author amidst heavy work. To accomplish such a specialized work requires not only a solid foundation in economic theory but also persistent perseverance. This also demonstrates the author's unwavering passion for learning and researching economics, as well as their great concern for the transition process of China's economy and society. The author notes the importance of using Marxist theory to analyze both the theory and practice of transition economies. If the analysis in this regard were deeper, the theoretical significance of the book would be even greater; if the study of China's practical conditions regarding Stiglitz's new theory of government intervention were more in-depth, the practical value of the book would be more prominent.