Home » 2011 » December » 18

Daily Archives: December 18, 2011

Coase: China needs to have a free market for “ideas”

Ronald Coase, Nobel-winning economist, whose economic theory on property rights has had a profound impact on China’s economic reform in the past 30 years, prescribes medicine for China’s long-term sustained economic growth: to have a free market for ideas.

What Coase essentially argued was that China needed to have a free and open society. This would immediately mean the transformation of the current political regime.

Watch this ten-minute video: