Monday, March 20, 2017

Andrew Batson — Fu Chengyu’s frank talk on SOE reform

For China watchers.

Andrew Batson's Blog
Fu Chengyu’s frank talk on SOE reform
Andrew Batson


Ryan Harris said...

The Kornai article just after Fe Chengyu article at Batson's blog describes the soft budget constraint (similar to MMT's concept) as opposed to a hard budget constraint (debt limit, deficit, current account balance). Every MMT advocate should use this way of thinking about productivity, wealth and surpluses when describing MMT's soft-budge view on real resource and labor constraints. It's brilliant.

Tom Hickey said...

Yes, very interesting. I had not heard of Janos Kornai.