“A basic contradiction between socialism and the market economy does not exist.”

— Deng Xiaoping

As quoted in Daily report: People's Republic of China, Editions 240-249 (1993), p. 30
Interview, Time, 4 November 1985.
Variant: There are no fundamental contradictions between a socialist system and a market economy.

Adopted from Wikiquote. Last update June 3, 2021. History

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Deng Xiaoping13

Chinese politician, Paramount leader of China 1904–1997

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter One, Nature of Political Economy, p. 8

“Hitlerian socialism… was a form of socialism that resembled a combination of utopian socialism and the socialist market economy found in communist China.”

L. K. Samuels (1951) American writer

Source: Killing History: The False Left-Right Political Spectrum and the Battle between the ‘Free Left’ and the ‘Statist Left', (2019), p. 305

“It would be more realistic to think of all economic enterprise as a public service. Thought of in this perspective, a private economy is a contradiction in terms. Every economy is a public or social (not socialist) economy.”

Robert A. Dahl (1915–2014) American political scientist

After the Revolution? (1970; 1990), Ch. 4 : From Principles to Problems

“Democracy is acceptable to neo-liberals only in so far as it does not contradict the free market.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 8, Democracy and the free market, p. 176

“The stock market is not the economy, and the economy is not the stock market.”

Kai Ryssdal (1963) Radio host, United States Navy officer

repeatedly on his radio program " Marketplace APM https://www.marketplace.org/2019/09/30/the-stock-market-is-not-the-economy/" (September 2019)

“What does it matter if China’s economy grows when there are no basic protections for its citizens?”

Ai Weiwei (1957) Chinese concept artist

2000-09, An Artist’s Ordeal. 2009

“In doing so, socialist, labor, and social democratic parties contributed to -- though they were not the sole authors of -- the development of the mixed economies that exist in advanced countries today. If these mixed economies are a far cry from the centralized systems that were created in Eastern Europe under Leninist rulers, they are also very far from the classical liberal model of a self-regulating market economy. If we look to the most advanced economies for guidance, then we should not allow ourselves to be misled by dogma about "free markets."”

Robert A. Dahl (1915–2014) American political scientist

After the Revolution? (1970; 1990), Ch. 3 : Democracy and Markets

“The greatness of a free-market economy is that it does not depend upon the wisdom of those who happen to be on top at the moment.”

Thomas Sowell (1930) American economist, social theorist, political philosopher and author

“Rise and fall of a business,” Monterey Herald, December 30, 2000
2000s

“No one "voted in" the market economy and the industrial revolution, but today issues of direction of the economy, costs, redress, priorities, and goals all have become matters of conscious and debated social policy.”

Daniel Bell book The Cultural Contradictions of Capitalism

Source: The Cultural Contradictions of Capitalism (1976), Chapter 6, The Public Household, p. 226

“Market economy implies a self-regulating system of markets; in slightly more technical terms, it is an economy directed by market prices and nothing but market prices.”

Karl Polanyi book The Great Transformation

The Great Transformation (1944), Ch. 4 : Societies and Economic Systems

“A basic contradiction between socialism and the market economy does not exist.”

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