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Seeking Truth from Facts and Figures Only? The Logic of Economics and China’s Miracles

Author

Listed:
  • Octavian-Dragomir JORA

    (Bucharest University of Economic Studies, Romania)

  • Alexandru BUTISEACÃ

    (Romanian-American University, Romania)

  • Mihaela IACOB

    (Bucharest University of Economic Studies, Romania)

Abstract

Let a hundred flowers bloom; let a hundred schools of thought contend is an iconic dictum of the early Maoist era, when the free speech was nominally encouraged in order to determine intellectuals to debate and develop socialism, though soon proved to be some perverse strategy to encourage the self-signalling of the too critical stances on the system and to ease their shutting up. The Deng Xiaoping’s U-turn consecrated the seeking (of) truth from facts, marking a process of gradually finding the right path towards the socialism/capitalism with Chinese characteristics and since then a worldwide competition among the explanations for the successfulness or sustainability of China’s transformations has spurred in the academic community of social scientists. Nowadays the Chinese unique hybrid model is under siege, with the turmoil installed in its financial markets calling for explanations of whether too much capitalism or too much socialism/interventionism is responsible for this. Our paper will propose a scrutiny of the theories standing behind Chinese realities, calling for a strategy we named seeking truth from principles.

Suggested Citation

  • Octavian-Dragomir JORA & Alexandru BUTISEACÃ & Mihaela IACOB, 2017. "Seeking Truth from Facts and Figures Only? The Logic of Economics and China’s Miracles," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 18(5), pages 545-562, December.
    • Handle: RePEc:rom:rmcimn:v:18:y:2017:i:5:p:545-562
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    References listed on IDEAS

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    Cited by:

    1. Zhangsheng Jiang, 2020. "Can the Gap and Rating of Market Expectation Promote Innovation Input of China Manufacturers?," Sustainability, MDPI, vol. 12(5), pages 1-19, March.

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    More about this item

    Keywords

    China; communism; capitalism; central planning; free markets; crisis.;
    All these keywords.

    JEL classification:

    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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