Is China evolving a new model for civilization

Bibliographic Data

ID9847041
AuthorsShixiong Cao (0000-0003-4396-0207, Minzu University of China, corresponding author), Chengqi Xia (0000-0003-1268-7121, Tsinghua University), Xinhao Suo (Peking University)
Year2022
Volume135
Pages102878
Publication date2022-01-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueFutures (JOURNAL)
Journal identifiersISSN: 0016-3287 • E-ISSN: 1873-6378
PublisherElsevier BV (PUBLISHER)
DOI10.1016/j.futures.2021.102878
OpenAlexW4200345582
LanguageEN
Citations received2
References cited21

Just as new branches grow from old trees, human civilization develops by building on previous institutions. Currently, there is much debate over what institutions will emerge from and possibly replace capitalism. In this paper, We describe a new ownership model that we call shared property. In contrast with the private ownership that characterizes capitalism and the public ownership that characterizes socialism, the new shared property concept means that those who participate in driving an enterprise’s success are comparable to co-owners of that enterprise, and benefit from its success. However, when these employees leave the company, their share of the ownership is returned to the enterprise and awarded to a future employee. Because the new property rights system can maximize employee enthusiasm, it provides a new engine that will drive future socioeconomic growth and lead to a significant institutional change that combines the advantages of capitalism and socialism

Business · Capitalism · China · Civilization · Communism · Economic system · Economics · Enthusiasm · Market economy · Microeconomics · Political science · Politics · Private property · Property (philosophy · Property rights · Public ownership · Socialism · China's Socioeconomic Reforms and Governance · Culture, Economy, and Development Studies · Economic theories and models · Law

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