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Three Issues in the Debate on Common Prosperity

From:社科报2022-5-16 13:07

As Wang Yilin indicated in the second issue of Tianjin Social Sciences in 2022, reviewing the history of economic thoughts, the basic debate on common prosperity revolves around three issues: one is whether common prosperity is ethically desirable; the second is whether common prosperity is economically feasible; the third is whether common prosperity is politically feasible. No matter what stance on the basic debate is, different schools of economists agree on the bottom line of public policy: equality of opportunity. But egalitarian economists expect "big government" that promotes common prosperity, while liberal economists are strongly suspicious of common prosperity and "big government." China has completely eliminated absolute poverty by virtue of its institutional advantages in culture, economy and politics. In the future, these advantages will not only determine what path China will take to achieve common prosperity, but also hopefully contribute Chinese wisdom to understanding the underlying logic and policy boundaries of common prosperity.