In most LDCs, the public sector and dirigisme have been allotted a vast, if not dominating, influence over the national economy. As a viable alternative to this widespread trend, the author seeks to develop an economic pattern of development policy based on the principles of market economy.

Foreword / Lawrence Summers -- Rights and dollars -- The case for the market -- Equality of income and opportunity -- Increasing equality in an efficient economy -- Further thoughts on equality and efficiency -- Notes -- Index

Purpose As a major theoretical breakthrough of the Marxist political economy based on the practice of China's reform and opening up, the theory of socialist market economy constitutes an important part of the political economy of socialism with Chinese characteristics. The paper aims to discuss...