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

2 comments:

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.