Mao and Markets

A thoroughly researched assessment of how Chinas economic success continues to be shaped by the communist ideology of Chairman Mao A Financial Times Best Book of 2022 Tied for the 2023 Axiom Gold Medal, sponsored by Axiom Business Book Awards It was long assumed that as China embraced open markets and private enterprise, its state-controlled economy would fall by the wayside, that free markets would inevitably lead to a more liberal society. Instead, Chinas growth over the past four decades has positioned state capitalism as a durable foil to the orthodoxy of free markets, to the confusion of many in the West. Christopher Marquis and Kunyuan Qiao argue that Chinas economic success is based onnot in spite ofthe continuing influence of Communist leader Mao Zedong. They illustrate how Maos ideological principles, mass campaigns, and socialist institutions have enduringly influenced Chinese entrepreneurs business strategies and the management of their ventures. Grounded in case studies and quantitative analyses, this book shows that while private enterprise is the engine of Chinas growth, Chinese companies see no contradictions between commercial drive and a dedication to Maoist ideology.