Chinese Capitalism

2/1/2012

This is a great podcast from Planet Money, an offshoot of This American Life on NPR. In this podcast they provide a brief description of life in communist China and discuss the development of capitalism in China's economy. Pay specific attention to why the farmers in this story decided to meet, what solution they came up with to solve their hunger problems, and what the reaction was by Chinese government officials.

In your opinion, could the farmers plan be applied to any other industry but farming? Can a system like that developed by the farmers in this story truly exist within a communist economy long term?

Travis McCollum

2/9/2012 05:12:42 am

China pre 1980's was an all communist counrty government tells you what to make and how much to make. This story takes place in rural china and is about hard times of the farmers after the death of Mao Zedong. Chinese farmers would wake up to the sound of a whistle which signifies the start of the day. While working in the fields everything that was produced was taken by officials, the farmers didn't have much food for themselves and their families. Farmers met in secret and collaborated which produced a doctrine which said, they would farm their own land and what they grew was their own. This concept led to compettition, which produced more yeild than the previous five years together. Crop yields caught the attention of the government officials. At this time some of the high powered officials were looking for change and allowed the farmers to keep producing like they had the previous year. This doctrine and event changed the chinese economy. This econmic concept can thrive in just about any areas of the economy (automobile,restaurant,furniture). China's economy is based on a capitalistic concept, but you must have some government interference or monopolies will develop and competition will decrease.

R10480114

2/9/2012 05:55:12 am

I agree with this statement, I also find it quite entertaining that it took the Chinese Govt. so long to realize the benefits of switching from a purely Communistic way of running things to incorporating some aspects of Capitalism into the different sectors of their economy. Which in turn like you said increased productivity and the utility derived from this new found "freedom" by the working class in their day to day lives at the workplace. Although I know their are still many restrictions like they mentioned in the audio clip, it's nice to see their making progress in a better direction.

R10407550

2/9/2012 08:29:22 am

It was pretty interesting to hear about the progression of the Chinese government. It was cool that they had interviewed an actual person that had lived through it. His story made you realize what it was really like back then, and how it has changed.

R10374650

2/16/2012 11:20:45 pm

I agree, it was interesting hearing his side of the story verses what the gov. official's said how life was now that the change has taken place.

R10300090

2/9/2012 11:19:13 am

It's kind of scary that the government didn't even feel like changing the economic working conditions even though so many people were unhappy. However, it's refreshing to see that just a handful of people were able to create an idea that turned China's economy and way of living around.

R10342974

2/9/2012 12:43:12 pm

Communism never works out and this is proof. Just seeing how successful the farmers became because they had competition and were working for self success rather than giving all their crops to the government. The farmers plan, in my opinion, could apply to many other industries as well.

R10413028

2/9/2012 01:18:06 pm

I’m not sure that this tactic could be applied to another market considering a person would not be in need of another product as much as they are for food and the crops that they produce. I am also uncertain if this system could be continued in a communist economy long term. Even though the government would see that the system was ultimately profitable, they would feel threatened because the system defies everything communism stands for. Therefore, in order to prevent further uprisings they would shut a system, similar to the farmer’s system, down.

R10438726

2/9/2012 02:39:35 pm

Yes, I believe that this system will work with a communist government as long as the government is like Chinas where they want experiment with something new.

R10327175

2/9/2012 10:36:53 pm

I have no clue why the government did not think of that idea first. It seemed simple enough and less people ended up starving because of it.

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Chinese Capitalism

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