Coase: China needs to have a free market for “ideas”
Posted in China, economics on December 18th, 2011 by Paul Deng – Be the first to commentRonald Coase, Nobel-winning economist, whose economic theory on property rights has had a profound impact on China’s economic reform in the past 30 years, prescribes medicine for China’s long-term sustained economic growth: to have a free market for ideas.
What Coase essentially argued was that China needed to have a free and open society. This would immediately mean the transformation of the current political regime.
Watch this ten-minute video:
