The transition from plan to market in China has been almost completed without any master-plan. The paper proposes to conceive this strategy of "crossing the river by touching the stones" as evolutionary process with a stepwise endogenization of political constraints of transition. A framework...

Most taxonomies of economic systems are dualistic, such as distinguishing between ‘plan' and ‘market'. Following A. Sen, I argue that these approaches fall into the trap of ‘transcendental institutionalism'. As an alternative, the paper develops principles of evolutionary taxonomy that...