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China's Economic Revolution

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  • Eckstein,Alexander

Abstract

Professor Eckstein's book is a study of China's efforts to achieve rapid modernization of its economy within a socialist framework. Eckstein begins with an examination of economic development in pre-Communist China, specifically focusing on the resources and liabilities inherited by the new regime in 1949 and their effects on development policies. He then analyses the economic objectives of the Communist leadership - narrowing income disparities, maintaining full employment without inflation, and achieving rapid industrialization - and argues that the implementation of these goals required a potent ideology capable of providing a strong faith and motivational force for the mass mobilization of resources. In discussing the methods used by the government to achieve its aims, Eckstein makes a thorough evaluation of China's general framework for economic planning, particularly in regard to the distribution and pricing of farm products and the allocation of resources in the industrial sector. The author also evaluates the radical institutional changes in property relations and in economic organization in the People's Republic of China.

Suggested Citation

  • Eckstein,Alexander, 1977. "China's Economic Revolution," Cambridge Books, Cambridge University Press, number 9780521291897.
    • Handle: RePEc:cup:cbooks:9780521291897
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    Citations

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    Cited by:

    1. Richard Burdekin & Fang Wang, 1999. "A Novel End to the Big Inflation in China in 1950," Economic Change and Restructuring, Springer, vol. 32(3), pages 211-229, October.
    2. Wang Ning, 2015. "The Chinese Economic System Under Mao," Man and the Economy, De Gruyter, vol. 2(2), pages 153-193, December.
    3. Banerjee, Abhijit & Duflo, Esther & Qian, Nancy, 2020. "On the road: Access to transportation infrastructure and economic growth in China," Journal of Development Economics, Elsevier, vol. 145(C).
    4. Anton Cheremukhin & Mikhail Golosov & Sergei Guriev & Aleh Tsyvinski, 2015. "The Economy of People’s Republic of China from 1953," NBER Working Papers 21397, National Bureau of Economic Research, Inc.
    5. Mkandawire, P. Thandika., 1981. "Capital goods, accumulation and technological change: some theoretical and practical issues from Africa," ILO Working Papers 992204063402676, International Labour Organization.
    6. Guriev, Sergei & Cheremukhin, Anton & Golosov, Mikhail & Tsyvinski, Aleh, 2015. "The Economy of People’s Republic of China from 1953," CEPR Discussion Papers 10764, C.E.P.R. Discussion Papers.
    7. Chen, Dabai, 1990. "Plan and market(s): a theoretical model of the Chinese grain economy," ISU General Staff Papers 1990010108000010424, Iowa State University, Department of Economics.
    8. Sinha, R. C., 1980. "Rural industrialisation in China in a historical perspective," ILO Working Papers 992017003402676, International Labour Organization.
    9. Chang-kyu Lee, 1997. "A Simple Monetary Model of the Chinese Ecdonomy, 1958–1978," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 1(1), pages 151-174, December.
    10. Imai, Hiroyuki, 2000. "The Labor Income Tax Equivalent of Price Scissors in Prereform China," Journal of Comparative Economics, Elsevier, vol. 28(3), pages 524-544, September.

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