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Price Reform: Law of Value and Inflation

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  • Zhang Chang

Abstract

Soon after the riots of the Cultural Revolution, the central government finally realized the necessity of catching up with the rest of the world. Although science and technology were also included in what was desperately needing improvement, "capitalist" economic activities, long ignored before 1976, declined almost totally throughout the country. The new leadership was in a position to choose which direction China could take so that the living standard could be lifted practically, not ideally.

Suggested Citation

  • Zhang Chang, 1991. "Price Reform: Law of Value and Inflation," Chinese Economy, Taylor & Francis Journals, vol. 24(4), pages 34-45, July.
    • Handle: RePEc:mes:chinec:v:24:y:1991:i:4:p:34-45
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