Abstract
Beijing plans to engineer a long-term transition to a more efficient “mode of growth.” Unlike the countercyclical policies described in the previous two chapters, this transition would allow for a permanent reduction in investment volatility. There would be less wasted investment during booms and less need for central government-led busts. Investment would not only become more productive but also account for a smaller share of final demand.
Only on the basis of intensification and higher effectiveness is it possible to progress toward communism.
—Gennady Sorokin, Corresponding Member of the USSR Academy of Science1
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Notes
Gennady Sorokin, “Patterns of Socialist Intensification.” The Soviet Review XXIV (Winter 1983–84): 47.
See Part III of Hu Jintao, “Hold High the Great Banner of Socialism with Chinese Characteristics and Strive for New Victories in Building a Moderately Prosperous Society in All Respects.” Report to the Seventeenth National Congress of the Communist Party of China, October 15, 2007, http://www.china.org.cn/english/congress/229611.htm.
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See Chapter 15, Section 5 in: Ludwig Von Mises, Human Action: A Treatise on Economics (Forth Revised Edition) (San Fransisco: Fox and Wilkes, 1996), http://mises.org/Books/humanaction.pdf.
See Part I in: Frederick Engels, Socialism: Utopian and Scientific (Marx/Engles Internet Archive, 2003), http://www.marxists.org/archive/marx/works/1880/soc-utop/
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© 2012 Mark A. DeWeaver
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De Weaver, M.A. (2012). Scientific Development: Master Plan or Myth?. In: Animal Spirits with Chinese Characteristics. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137110121_9
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