Abstract

The discourse on controlled economy in China was formulated in the 1930s when the fall of capitalism was intersected with the rise of socialism. Its formulation was closely connected with the Chinese perception on planned economy as an alternative to free economy in that its conceptualization process was largely influenced by the existing terminology of the planned economy. This study takes a multifaceted analysis on the dynamics of the conceptualization of the controlled economy. It pays attention to the fact that the theory on the controlled economy in China was developed along with a resonance of planned economy caused by a contemporary change, namely the transition of capitalism. The study first examines the political and intellectual context of the terminology “controlled economy” centering on the discourses by contemporary Chinese intellectuals. Then, it analyzes the practice of conceptualization of the theory of controlled economy in consideration with its relationships with the concept of planned economy. Finally, the study suggests the implication of the intellectual movement of conceptualizing controlled economy in grasping the contemporary practice of 1930s. In conceptualizing controlled economy, we can observe that it was often merged with the concept of planned economy. Its terminological usage, denotations and categories varied between disputants. It was basically because of the disagreements on commonness and disparities of the two theory, for instance, about the evaluation of socialistic modernization or the chances of its realization in China, etc. And yet, disputants largely consented in the conceptualization of controlled economy that they were commonly in favor of socialism; they regarded controlled economy as a harmonizing but temporarily adoptable model in minimizing the vice of capitalism and maximizing the virtue of planned economy. It requires to pay our attention as to understand the intellectual implication that the conceptualization of the theory of controlled economy was carried out as a critical reorganization of planned economy which had been suggested as an alternative to free economy, and as an independent interpretation of Chinese intellectuals which was lively attached to the semi-colonial circumstance of China.

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