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Property Rights, the Government, and the Marketization of the Economy

  • Yang Xiaowei
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    In a sense, the process of constructing a socialist market economic system is the process of constructing markets and realizing the marketization of the economy itself. In essence, the market is itself a relationship of competition and cooperation among people that is formed in the course of their economic activities. In other words, it is a relationship of voluntary exchange among mutually independent and at the same time mutually opposed entities of interest. It is precisely because of the existence of such a mutually interactive relationship that the exchange of equal values and the price mechanism existing among such interrelated entities play a regulative role in the economic activity of society and affect the deployment of resources.

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    Article provided by M.E. Sharpe, Inc. in its journal Chinese Economy.

    Volume (Year): 29 (1996)
    Issue (Month): 5 (September)
    Pages: 31-60

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    Handle: RePEc:mes:chinec:v:29:y:1996:i:5:p:31-60
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