{"id":590839,"date":"2019-05-08T00:00:02","date_gmt":"2019-05-08T07:00:02","guid":{"rendered":"https:\/\/www.microsoft.com\/en-us\/research\/?post_type=msr-research-item&#038;p=590839"},"modified":"2019-06-03T13:39:04","modified_gmt":"2019-06-03T20:39:04","slug":"capitalism-and-entrepreneurship-in-socialist-china","status":"publish","type":"msr-video","link":"https:\/\/www.microsoft.com\/en-us\/research\/video\/capitalism-and-entrepreneurship-in-socialist-china\/","title":{"rendered":"Capitalism and Entrepreneurship in Socialist China"},"content":{"rendered":"<p>Contrary to popular belief, the modern Chinese economy did not spring into being in 1978 with Deng Xiaoping\u2019s call for \u201cReform and Opening Up.\u201d Rather, it was a product of an incremental, bottom-up transformation, decades in the making. As my research shows, throughout China&#8217;s socialist era, citizens at all levels of society\u2014 from farmers who illegally traded ration coupons, to state officials who colluded with underground factories to manufacture goods\u2014 actively subverted state control to profit from inefficiencies in planning and, more generally, to make things work. In the absence of \u201cgood institutions,\u201d they formed illicit networks that subsumed the ordinary functions of markets (ex. coordination, information aggregation, risk sharing, lending) and created productive assemblages of capital, labor, and knowledge. Drawing upon an array of unconventional sources that have never before been examined by scholars, I will argue that capitalism and entrepreneurship not only supported the functioning of China&#8217;s socialist economy, but fundamentally reshaped it and created the conditions for subsequent economic growth.<\/p>\n<p><a href=\"https:\/\/www.microsoft.com\/en-us\/research\/uploads\/prod\/2019\/06\/Capitalism-and-Entrepreneurship-in-Socialist-China-slides.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">[SLIDES]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contrary to popular belief, the modern Chinese economy did not spring into being in 1978 with Deng Xiaoping\u2019s call for \u201cReform and Opening Up.\u201d Rather, it was a product of an incremental, bottom-up transformation, decades in the making. As my research shows, throughout China&#8217;s socialist era, citizens at all levels of society\u2014 from farmers who [&hellip;]<\/p>\n","protected":false},"featured_media":590887,"template":"","meta":{"msr-url-field":"","msr-podcast-episode":"","msrModifiedDate":"","msrModifiedDateEnabled":false,"ep_exclude_from_search":false,"footnotes":""},"research-area":[13548,13559],"msr-video-type":[],"msr-locale":[268875],"msr-impact-theme":[],"msr-pillar":[],"class_list":["post-590839","msr-video","type-msr-video","status-publish","has-post-thumbnail","hentry","msr-research-area-economics","msr-research-area-social-sciences","msr-locale-en_us"],"msr_download_urls":"","msr_external_url":"https:\/\/youtu.be\/dK91oE-GXtk","msr_secondary_video_url":"","msr_video_file":"","_links":{"self":[{"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-video\/590839"}],"collection":[{"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-video"}],"about":[{"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/types\/msr-video"}],"version-history":[{"count":1,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-video\/590839\/revisions"}],"predecessor-version":[{"id":590845,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-video\/590839\/revisions\/590845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/media\/590887"}],"wp:attachment":[{"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/media?parent=590839"}],"wp:term":[{"taxonomy":"msr-research-area","embeddable":true,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/research-area?post=590839"},{"taxonomy":"msr-video-type","embeddable":true,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-video-type?post=590839"},{"taxonomy":"msr-locale","embeddable":true,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-locale?post=590839"},{"taxonomy":"msr-impact-theme","embeddable":true,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-impact-theme?post=590839"},{"taxonomy":"msr-pillar","embeddable":true,"href":"https:\/\/www.microsoft.com\/en-us\/research\/wp-json\/wp\/v2\/msr-pillar?post=590839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}