Purpose - Expanding and developing the theoretical implications of socialist market economy with China's experience. Design/methodology/approach - In the course of exploring the development of a market economy, China has given full play to the advantages of the socialist system, which has...

This article aims to show that the Chinese development process over the past four decades is not a self-explanatory fact. It is a process that may have revealed the ultimate limitation of the current capacities for interpretation represented by both orthodox and heterodox approaches. This...

Arguments of Mises and Hayek, who opposed the planned economy (PE), are used in the paper as a starting point for establishing the objective area of effective application of the PE. The abstract model of PE, based on the definitions of Mises and Hayek, leads to the conclusion that for the...

How can we overcome the existing political, economic, and ecological crises that humanity faces? With the notion of the commons, Lukas Peter argues that this form of social organization can provide answers to the shortcomings of centralized states and open and competitive markets. By building on...

Im Juni 2018 jährt sich die Geburtsstunde der Sozialen Marktwirtschaft in Deutschland zum siebzigsten Mal. Währungsreform und Preisfreigabe setzten im Juni 1948 den Startpunkt für ein Gesellschafts- und Wirtschaftsmodell, das die Prinzipen des freien Marktes und des sozialen Ausgleichs...

Over last three decades, Chinaa s economic success amazed the world. It can be traced back to the year 1978 when the Communist Party of China decided to pursue a a reform and opening upa policy. There are a lot of literature on the subject. However, the cultural aspect of China's economic...