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Questioning the Formulation "People-Run Economy"

Author

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  • Bai Yongxiu
  • Ma Xiaoqiang

Abstract

>p>In recent years, the formulation "people-run economy" >i>[minying jingji]>/i> has emerged with increasing frequency in all sorts of documents and literature in the field of economic studies and in the news media. In the beginning, people started to use the term, "people-run economy," to refer to economies that were under the nonpublic system of ownership; however, in reality, it has proved to be a very vague and ambiguous concept, and one that has caused a certain degree of confusion both in theory and practice. Its unscientific character has been manifested in the following areas:>/p>>p>First, the formulation "people-run economy" fails to reflect accurately or precisely the nature and character of the variety of types and forms of economies included within the scope of the term with regard to the ownership systems to which they would belong, and, therefore, the use of the term merely serves to blur people's lines of vision.>/p>

Suggested Citation

  • Bai Yongxiu & Ma Xiaoqiang, 1998. "Questioning the Formulation "People-Run Economy"," Chinese Economy, Taylor & Francis Journals, vol. 31(1), pages 41-47, January.
  • Handle: RePEc:mes:chinec:v:31:y:1998:i:1:p:41-47
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