Central planning with public ownership has failed in China as it has
done elsewhere
This is because:
Marx’s solution to capitalism is flawed
Mao’s paranoia of insecurity overrides the interests of the common people
The right choice to make China great again is to turn towards an open
mark...
Planning and market How did central planning work in China? Disillusion in the promised miracle Conclusion
2.2 Central Planning in 1949-1978
ECON 211, Winter 2021-2022
Yingfeng Xu
Department of Economics, University of Alberta
January 20, 2022
, Planning and market How did central planning work in China? Disillusion in the promised miracle Conclusion
The failure of central planning
Planning and market
How does central planning work?
Unfulfilled promise
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller johnmurimi. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.