A basic contradiction between socialism and the market economy does not exist.
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As quoted in Daily report: People's Republic of China, Editions 240-249 (1993), p. 30
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Variant: There are no fundamental contradictions between a socialist system and a market economy.
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Interview, Time, 4 November 1985.Deng Xiaoping
» Deng Xiaoping - all quotes »
We mustn't fear to adopt the advanced management methods applied in capitalist countries (...) The very essence of socialism is the liberation and development of the productive systems (...) Socialism and market economy are not incompatible (...) We should be concerned about right-wing deviations, but most of all, we must be concerned about left-wing deviations.
Deng Xiaoping
The most serious problems lie in the financial sphere, where the economy’s debt overhead has grown more rapidly than the ‘real’ economy’s ability to carry this debt. ... The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real estate prices rather than to build new factories and employ more labor. - 1998
Michael (economist) Hudson
Forget about the market updates. Here's a better way to find out about the economy-your economy. Take a walk. And ask some questions.
Jim Stanford
Nevertheless, it is necessary to remember that a planned economy is not yet socialism. A planned economy as such may be accompanied by the complete enslavement of the individual. The achievement of socialism requires the solution of some extremely difficult socio-political problems: how is it possible, in view of the far-reaching centralisation of political and economic power, to prevent bureaucracy from becoming all-powerful and overweening? How can the rights of the individual be protected and therewith a democratic counterweight to the power of bureaucracy be assured?
Albert Einstein
The parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.
Robert Gilpin
Deng Xiaoping
Denham, John
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