Seeking Truth from Facts and Figures Only? The Logic of Economics and China’s Miracles

Octavian-Dragomir Jora (), Alexandru Butiseacã () and Mihaela Iacob
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Octavian-Dragomir Jora: Bucharest University of Economic Studies, Romania
Alexandru Butiseacã: Romanian-American University, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2017, vol. 18, issue 5, 545-562

Abstract: Let a hundred flowers bloom; let a hundred schools of thought contend is an iconic dictum of the early Maoist era, when the free speech was nominally encouraged in order to determine intellectuals to debate and develop socialism, though soon proved to be some perverse strategy to encourage the self-signalling of the too critical stances on the system and to ease their shutting up. The Deng Xiaoping’s U-turn consecrated the seeking (of) truth from facts, marking a process of gradually finding the right path towards the socialism/capitalism with Chinese characteristics and since then a worldwide competition among the explanations for the successfulness or sustainability of China’s transformations has spurred in the academic community of social scientists. Nowadays the Chinese unique hybrid model is under siege, with the turmoil installed in its financial markets calling for explanations of whether too much capitalism or too much socialism/interventionism is responsible for this. Our paper will propose a scrutiny of the theories standing behind Chinese realities, calling for a strategy we named seeking truth from principles.

Keywords: China; communism; capitalism; central planning; free markets; crisis. (search for similar items in EconPapers)
JEL-codes: N15 N45 P21 P52 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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