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| Author: | Chen, Mingxuan Ou, Bin |
| Title: | An analysis of the characteristics and drawbacks of China's traditional property rights system (original in Chinese) |
| Journal: | Reform of Economic System (c)
1996 : 3, p.51-54 |
| Index terms: | COMPANY OWNERSHIP NATIONALISATION ECONOMIC SYSTEMS PUBLIC CORPORATIONS MANAGEMENT |
| Language: | chi |
| Abstract: | China's traditional property rights system is one under public ownership. The maximal drawback of collective economic organization is the uncertainty and incompleteness of the owners of property rights. The main drawback of the property rights system under public ownership is the non-exclusiveness and failing to do transactions, which decides that the traditional property rights system is a fruitless one. In the economic life, in which property rights and their rules do not work, what domination's the economic life is certainly the super economic force rather than the economic force and thus a country's economy can only be an economy dominated by power instead of an economy under the rule of law. |
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