Deng Xiaoping: Difference between revisions

Content deleted Content added
172 (talk | contribs)
less senile and haggard looking photo
172 (talk | contribs)
No edit summary
Line 54:
The reforms centered on improving labor productivity as well. New material incentives and bonus systems were introduced. Rural markets selling peasants’ homegrown products and the surplus products of communes were revived. Not only did rural markets increase agricultural output, they stimulated industrial development as well. With peasants able to sell surplus agricultural yields on the open market, domestic consumption stimulated industrialization as well and also created political support for more difficult economic reforms.
 
There are some parallels between Deng’s market socialism especially in the early stages, and Lenin’s [[New Economic Policy]] as well as those of [[Nikolai Ivanovich Bukharin|Bukharin's]] economic policies, in that both foresaw a role for private entrepreneurs and markets based on trade and pricing rather than centrallycentralized plannedplanning. An interesting anecdote on this note is the first meeting between Deng and [[Armand Hammer]]. Deng pressed the industrialist and former investor in Lenin’s Soviet Union for as much information on the NEP as possible.
 
==Institutionalization of Procedure==