ABSTRACT
The relationship between planning and the market is an issue that has long been debated in the field of economics. It has been controversial since the very birth of socialist economics. The ebb and flow of the issues can be charted in China’s theoretical circles even prior to the start of reform in 1978. The discussions back then developed from an exploration of the ideas of commodity production and the law of value under a socialist system. We can discern four main periods of debate on the issue.
