"THE EVOLVING CONCEPT OF SOCIAL CAPITAL, MARKETS, MARKET-BASED PROCESSES AND SOCIALIST CONSTRUCTION"

Research output: Contribution to journalArticle

Abstract

"For every social formation, remnants of past, as well as embryonic forms of potential
new modes of production, potentialities for return to previous modes of production, remain
alive within the present. History and its legacies cannot be wiped out over night. For China, the
long-term presence and role of capitalism within the Chinese socialist social formation, in building
and defending Chinese socialism, as well as facilitating China’s integration into a capitalist-based
global economy, is recognized even in the flag of China with one of its small four stars representing
the “patriotic national bourgeoisie” of China. But this gives rise to a set of profound contradictions.
The “social capital” (institutions that foster mass hope, trust in the system, social cohesion
and acceptance of “acceptable” social values, definitions and modes of behavior) and viewsrequirements
of “human nature” under capitalism, are fundamentally in contradiction with those
under socialism. The ongoing danger is that using capitalism to build and defend socialism may
wind up with socialism being used to return to, build and defend capitalism."
Original languageEnglish
Pages (from-to)675-687
Number of pages23
JournalWorld Review of Political Economy
Volume1
Issue number4
Publication statusPublished - 2010

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Keywords

  • social capital
  • capitalism
  • socialism
  • socialism with Chinese characteristics

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