The Theory of Polanyi's Free Market Path:a Practice of China's Land, Labor and Monetary Reform

Zhenli Wang, Jianyu Lin
2017 Proceedings of the 2nd International Symposium on Business Corporation and Development in South-East and South Asia under B$R Initiative (ISBCD 2017)   unpublished
Karl Polanyi stresses that the establishment of the free market is dependent on the formation of the state compulsory intervention, and since ancient times, there has been no such thing as completely free, self-regulating market system, and the claim of spontaneous adjustment market is a thorough utopia. Based on a series of Chinese reform measures in the eighties and nineties (of the 20th century), it can be found that the evolving path of Chinese free market economy , just like what Polanyi
more » ... like what Polanyi said, has been relying on the state's intensive and extensive power, rather on the spontaneous free market mechanism. Therefore, without the compulsory intervention force, the system of socialist market economy cannot spread out as we witness today.
doi:10.2991/isbcd-17.2017.10 fatcat:qd6s27ns2rbr5c6trkjcfoqsee