Bozo,
That is all fairy tale nonsense, socialism is a flop, capitalism won and is even making inroads into China through a growing middle class that is adopting American ideals about wealth generation and storage. Socialism isn't childish but your assertion that it is a viable economic model is childish and uninformed.
The government needs to control social programs that meet the needs of the people. The government also needs to regulate externalities and create laws that balance the market.
You wrote, "Every rich person got rich by the sweat of others." So, what magical force is stopping you from doing the same? Keep in mind that most jobs are created by the vision of these "rich people" you seem to scorn.
Sorry for the long copy past but the article is not available without membership
So, basically we are moving toward a happy middle where social needs are met through planned effort while industry is motivated through market forces. The only force that reliably guides people is self-interest and that is the prime motivator in a free market economy.
Thanks for your time,
Rhizo
That is all fairy tale nonsense, socialism is a flop, capitalism won and is even making inroads into China through a growing middle class that is adopting American ideals about wealth generation and storage. Socialism isn't childish but your assertion that it is a viable economic model is childish and uninformed.
The government needs to control social programs that meet the needs of the people. The government also needs to regulate externalities and create laws that balance the market.
You wrote, "Every rich person got rich by the sweat of others." So, what magical force is stopping you from doing the same? Keep in mind that most jobs are created by the vision of these "rich people" you seem to scorn.
Sorry for the long copy past but the article is not available without membership
The development of market orientation: a consideration of institutional influence in China Wrote:Mao's “theory of continuous revolution” viewed the market as an “embodiment of capitalism” (Dittmer and Gore, 2001, p. 17). He chose a central plan-based economic system. National production was thus driven by the central plan (Borgonjon and Vanhonacker, 1992), which hindered Chinese firms’ market orientation. In the post-Mao Era following the 1978 economic and political reforms, market track of the dual-track approach, however, allowed economic agents to participate in the market but they were required to fulfill social obligations (Lau et al., 2001). Many Chinese still expect social obligations from private firms. For instance, in an ethnographic study, Hsu (2006) found some entrepreneurs were understood as cadres and were judged by their ability to provide socialist benefits.
Chinese firms gradually started importing western management techniques. Traditionally, the import, however, was concentrated on the tangible and quantitative approach. Soft concepts of management, such as marketing and consumer behavior, are relatively less integrated into Chinese thinking (Borgonjon and Vanhonacker, 1992). Such concepts were perceived by the Chinese Communist Party (CCP) as a threat to the communist ideology. It is important to note that the empowerment of employees (Harris, 1996) and customers (Ramani and Kumar, 2008) are important components of market orientation. Political as well as corporate power holders in socialist economies, on the other hand, prefer unilateral control of power and decision making and thus oppose empowerment (Lynn et al. 2002).
So, basically we are moving toward a happy middle where social needs are met through planned effort while industry is motivated through market forces. The only force that reliably guides people is self-interest and that is the prime motivator in a free market economy.
Thanks for your time,
Rhizo