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market communism

noun

Definitions

  1. A form of communism that also engages to a limited extent with the free market.

    • Attempts to introduce versions of "market communism" — in China, Hungary or Yugoslavia — have shown how hard it is to make mainly state-owned economies as nimble as mainly private ones.
    • These second tier businesses too might prefer the luxury of rentier satisficing, but lacking “godfathers,” are compelled to behave more or less like neoclassical profit-seekers. They are the “market” heart of Chinese market communism; […]

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sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA