The Way of the Tao is Simple - Economics for EMBA: 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 unadorned, easy-to-understand sentences to summarize a very sharp and profound issue that people have 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 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 great 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 proposal with extremely high political wisdom. This goal first firmly answers the objections coming from the "left" and resolutely denies the trend of "preferring socialist grass to capitalist seed." This goal also firmly blocks the political tendency of the "right." What we want is "comprehensive well-being," absolutely not a society of polarization, absolutely not a society where a small part of the population controls the vast majority of the wealth, while the majority have nothing.
Chen Hui's Viewpoint: 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 unadorned, easy-to-understand sentences to summarize a very sharp and profound issue that people have debated for over a hundred years. We should follow this line of thinking to explore socialist economics. Perhaps our answers are not yet complete, but this line of thinking cannot change. What is this line of thinking? First, the people 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 great 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 proposal with extremely high political wisdom. This goal first firmly answers the objections coming from the "left" and resolutely denies the trend of "preferring socialist grass to capitalist seed." This goal also firmly blocks the political tendency of the "right." What we want is "comprehensive well-being," absolutely not a society of polarization, absolutely not a society where a small part of the population controls the vast majority of the wealth, while the majority have nothing.