A Theoretical Consideration of the Socialist Market Economy. Issue 2 (3rd April 2022)

• Record Type: Journal Article
• Authors: Saratchand, C.
• Is Part Of: International critical thought. Volume 12:Issue 2(2022)
• Page Start: 287
• Page End: 304
• Publication Date: 2022-04-03
• Subjects: Socialist market economy -- macroeconomic -- investment -- political economy; Critical thinking -- Periodicals; Current events -- Periodicals; 153.4205
• DOI: 10.1080/21598282.2022.2054001
• Languages: English
• ISSNs: 2159-8282

Abstract

ABSTRACT: The recent economic experience of countries such as China, Vietnam, Laos, etc., has invoked some interest in the economic system in these countries. This economic system which is often characterised as the socialist market economy is first conceptually distinguished from a centrally planned socialist economy as well as from a market socialist economy. Then a simple macroeconomic framework of a stylised socialist market economy is set out and its principal properties are highlighted. The paper concludes with a brief examination of the political economy of the socialist market economy.