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Performance and mechanisms of the Maoist economy – a holistic approach, 1950-1980

Author

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  • Deng, Kent
  • Shen, Jim Huangnan
  • Guo, Jingyuan

Abstract

This article probes performance and mechanisms of the Maoist economy from 1950 to 1980, a period commonly regarded as a turning point that ushered in a bumpy but new path for China’s new economic fortune, including industrialisation and modernisation. Mao and his government have often been regarded as a developer and moderniser for China. This study questions it. To that end, the Maoist economy is re-conceptualised, re-examined, and re-assessed with qualitative and quantitative evidence including empirical modelling. The key findings suggest that the Maoist economy was a closed one with industrial dependence on agriculture in an urban-rural zero-sum. In the end, despite the official propaganda agriculture declined, industrial workforce stagnated, and the population was poor. This gloomy performance justified the post-Mao reforms and opening up, a game changer that put China on a very different trajectory of growth and development.

Suggested Citation

  • Deng, Kent & Shen, Jim Huangnan & Guo, Jingyuan, 2024. "Performance and mechanisms of the Maoist economy – a holistic approach, 1950-1980," LSE Research Online Documents on Economics 124262, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:124262
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    File URL: http://eprints.lse.ac.uk/124262/
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    More about this item

    Keywords

    Maoism; closed economy; zero-sum; industrial dependence on agriculture;
    All these keywords.

    JEL classification:

    • N0 - Economic History - - General

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