Socialist Market Economy and Rational Macro Controls

Much has been written about China’s socialist market economy since October 1992, when the concept was formally endorsed. Many have debated its true nature. Is it really a socialist or a market economy? Is it an unwieldy synthesis of both, or has it through time matured into a manageable system for continued national development? And relatedly, especially since 2008 (although such policymaking is much older), what are macro controls and how do they support both the concepts and practices associated with the Chinese economy?

One question that has bedeviled socialists in particular is whether a socialist market economy is a contradiction of terms. From a Marxist perspective, markets are problematic. However, not