http://thenextrecession.wordpress.com/2012/03/23/which-way-for-china-part-two/
Is mainstream economics right to argue that people’s needs and
aspirations can only be met by a capitalist economy? The evidence of
the Great Recession and the ensuing long depression suggest otherwise.
If the capitalist road is adopted and the law of value becomes dominant, it
will expose the Chinese people to chronic economic instability
(booms and slumps), insecurity of employment and income and greater
inequalities. On the other hand, if the surplus created by the Chinese
people remains under the control of an elite backed by an army and
police and ruling without dissent, then the needs and aspirations of a
more affluent and educated population will not be met.
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