(long thread)
Some people were questioning my designation of China as capitalist in "C,A".
It is based on Marx-Weber's succinct definition of what is capitalism. There are three points.
Some people were questioning my designation of China as capitalist in "C,A".
It is based on Marx-Weber's succinct definition of what is capitalism. There are three points.
1. Most of production done using privately-owned means of production, and for profit;
2. Labor is a hired by owners of K (i.e. labor does not play the entrepreneurial role);
3. Coordination is decentralized.
2. Labor is a hired by owners of K (i.e. labor does not play the entrepreneurial role);
3. Coordination is decentralized.
One could add Schumpeter's requirement that most of investment is made by private companies.
So here are graphs showing the results for China, based on World Bank, Chinese statistical information & paper by Yang, Novokmet, Milanovic.
All graphs (but one) from Ch 3 of "C,A".
So here are graphs showing the results for China, based on World Bank, Chinese statistical information & paper by Yang, Novokmet, Milanovic.
All graphs (but one) from Ch 3 of "C,A".
Share of Chinese State-Owned enterprises in total industrial value added. 
Shares of the state and private sector in total fixed investments.
Share of state-sector workers in total urban employment.
Share of employment in state and collective enterprises in total China employment (rural and urban)
The rising share of capitalists and individual business owners among the richest 5%
