The Year 1979 in My Life

Summary

The passage discusses the complex relationship between public and non-public ownership in a socialist market economy. Li He explains to Zha Hai Sheng that these economic models are complementary, not contradictory. The key is maintaining public ownership's principal status while allowing market mechanisms. A robust socialist market economy requires a comprehensive legal framework that protects market competition, ensures fair resource allocation, and stimulates economic entities' vitality. The conversation highlights the evolving understanding of socialist economic principles beyond Marx and Engels' original hypotheses.

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