https://mises.org/mises-wire/lange-mises-and-praxeology-retreat-marxism
A class conscious of itself, for itself, will make social revolution - like no other revolution in history.
Of course!
Ronald Coase and his co-author Ning Wang in How China Became Capitalist (Palgrage Macmillan, 2012). Of note is the fact that Coase celebrated his 101st birthday in 2012, the year in which this brilliant, and Coase's last, book was published. Contrary to Chinese Communist Party propaganda, which holds that the Party's "visible hand" was responsible for China's rise, Coase and Wang show that it was Adam Smith's "invisible hand" that did the trick in China.
Coase and Wang prove that China's embrace of capitalism and free markets was driven by four "marginal revolutions." First, there was the "household responsibility system" in agriculture. This arose spontaneously and allowed farmers to sell some of their products at free-market prices. The second revolution was in townships and villages, where they were allowed to operate like businesses that produced and sold output at market prices. The third revolution allowed budding entrepreneurs to participate in the "individual economy" (read: the private, free-market economy). And the fourth revolution involved setting up "special economic zones" — most notably in the Guangdong and Fujian provinces, such as in the city Shenzhen, and in many coastal cities, like Shanghai. As a result of these revolutions, Coase and Wang concluded that a vibrant non-state sector arose like a phoenix in China and stood in sharp contrast to the stagnant state sector.
EVERYTHING FOR THE FIRM - NOTHING OUTSIDE OF THE FIRM - NOTHING AGAINST THE FIRM
