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China Economic Development and Evolution of Socialist Public Ownership

China Economic Development and Evolution of Socialist Public Ownership For any developing countries in the 20th century, there exists aproblem of how to choose the economic development route socialist or capitalist which means how to compare different social andeconomic benefits and make different value judgements in economicdevelopment. Socialism is not a pure political and ideological question,certainly not just a political question. It is a way for developingcountries, particularly large agricultural countries, to realise theirindustrialisation and modern commercial economy. Essentially, it is afocus of development economics. For economically backward countries theaim of socialism is not to fight against the capitalist world, but firstto develop their own economy. Socialist public ownership connected withthe stage of economic development involves inner contradictions in itsown development from the very beginning. We cannot make socialist publicownership perfect without overcoming those contradictions. Publicownership cannot improve social productivity without coming across itsown historical limitation. Economic reforms now being practised in Chinaare an effort to improve socialist public ownership to reformtraditional forms of public ownership which have not satisfied thedevelopment of productivity. Socialism and public ownership are notfeatures for economically backward countries to flaunt. Neither are theyhistorical trends. They are a way to get rid of poverty, and to realisea modern commercial economy, a way different from the development routeof capitalism. There are historical necessity and economic rationalityfor that kind of socialist public ownership connected with economicdevelopment of backward countries. And, of course, socialist publicownership has its own inner contradictions and historical limitations,just like any other kind of ownership in history. It changes anddevelops continually. Socialist public ownership needs to improveitself, to realise its own development and evolution, and finally tomake assets of public ownership the social capital satisfying the demandof highly socialised productivity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

China Economic Development and Evolution of Socialist Public Ownership

International Journal of Social Economics , Volume 18 (8/9/10): 7 – Aug 1, 1991

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0306-8293
DOI
10.1108/03068299110144183
Publisher site
See Article on Publisher Site

Abstract

For any developing countries in the 20th century, there exists aproblem of how to choose the economic development route socialist or capitalist which means how to compare different social andeconomic benefits and make different value judgements in economicdevelopment. Socialism is not a pure political and ideological question,certainly not just a political question. It is a way for developingcountries, particularly large agricultural countries, to realise theirindustrialisation and modern commercial economy. Essentially, it is afocus of development economics. For economically backward countries theaim of socialism is not to fight against the capitalist world, but firstto develop their own economy. Socialist public ownership connected withthe stage of economic development involves inner contradictions in itsown development from the very beginning. We cannot make socialist publicownership perfect without overcoming those contradictions. Publicownership cannot improve social productivity without coming across itsown historical limitation. Economic reforms now being practised in Chinaare an effort to improve socialist public ownership to reformtraditional forms of public ownership which have not satisfied thedevelopment of productivity. Socialism and public ownership are notfeatures for economically backward countries to flaunt. Neither are theyhistorical trends. They are a way to get rid of poverty, and to realisea modern commercial economy, a way different from the development routeof capitalism. There are historical necessity and economic rationalityfor that kind of socialist public ownership connected with economicdevelopment of backward countries. And, of course, socialist publicownership has its own inner contradictions and historical limitations,just like any other kind of ownership in history. It changes anddevelops continually. Socialist public ownership needs to improveitself, to realise its own development and evolution, and finally tomake assets of public ownership the social capital satisfying the demandof highly socialised productivity.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: Aug 1, 1991

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