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      THE EVOLVING CONCEPT OF SOCIAL CAPITAL, MARKETS, MARKET-BASED PROCESSES AND SOCIALIST CONSTRUCTION

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            Abstract

            For every social formation, remnants of past, as well as embryonic forms of potential new modes of production, potentialities for return to previous modes of production, remain alive within the present. History and its legacies cannot be wiped out over night. For China, the long-term presence and role of capitalism within the Chinese socialist social formation, in building and defending Chinese socialism, as well as facilitating China's integration into a capitalist-based global economy, is recognized even in the flag of China with one of its small four stars representing the "patriotic national bourgeoisie" of China. But this gives rise to a set of profound contradictions. The "social capital" (institutions that foster mass hope, trust in the system, social cohesion and acceptance of "acceptable" social values, definitions and modes of behavior) and viewsrequirements of "human nature" under capitalism, are fundamentally in contradiction with those under socialism. The ongoing danger is that using capitalism to build and defend socialism may wind up with socialism being used to return to, build and defend capitalism.

            Content

            Author and article information

            Journal
            worlrevipoliecon
            10.2307/j50005553
            World Review of Political Economy
            Pluto Journals
            2042891X
            1 December 2010
            : 1
            : 4
            : 675-687
            Article
            10.2307/41931896
            a5958c5d-10e3-42cb-ae81-c9ec01e7ca22
            © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2010

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History

            Political economics

            Notes

            1. Chairman Mao Zedong, "Talk to Music Workers," pp. 85-88, in Stuart Schräm, ed., Chairman Mao Talks to the People: Talks and Letters 1956-1971 (New York: Pantheon Books, 1974).

            2. "Report of the 1 6th Congress of the Communist Party of China," 2002, quoted in "Some Basics on China" (online edition) by D. Raja and He Yong, PoliticalAffairs.net, at www.politicalaffairs.net/ article/articleview/256/1/32, p. 1.

            3. Edward Luttvak quoted in Thomas Frank, One Market Under God: Extreme Capitalism, Market Populism and the End of Economic Democracy (New York: Anchor Books, 2000), p. 17.

            4. "China's Growing Pains," The Economist, August 26, 2004.

            5. Lyda Judson Hanifan, "The Rural School Community Center," Annals of the American Academy of Political Science 67 (1916): 130-138. Robert D. Putnam, Bowling Alone: The Collapse and Revival of American Community (New York: Simon and Schuster, 2000) Robert D. Putnam, ed., Democracies in Flux: The Evolution of Social Capital in Contemporary Society (New York: Oxford University Press, 2002

            6. John R. Seeley, Alexander Sim, and Elizabeth Loosley, Crestwood Heights: A Study of the Culture of Suburban Life (New York: Basic Books, 1956).

            7. Jane Jacobs, The Death and Life of Great American Cities (New York: Random House, 1961).

            8. Glenn Loury, "A Dynamic Theory of Racial Income Differences," in P. A. Wallace and A. LeMund, eds., Women, Minorities and Employment Discrimination (Lexington, MA: Lexington Books, 1977).

            9. Pierre Bourdieu, "Forms of Capital," in John Richardson, ed., Handbook of Theory and Research for The Sociology of Education (New York: Greenwood Books, 1983).

            10. Ekkehart Schlicht, "Cognitive Dissonance in Economics," in Normengeleitetes Verhalten in den Sozialwissenschaften (Berlin: Duncker and Humblot, 1984).

            11. James Coleman, "Social Capital in the Creation of Human Capital," American Journal of Sociology 94(1988).

            12. Claude Diebolt, "Towards a New Social Structure of Accumulation," Historical and Social Research 27, 2/3 (2002); David M. Gordon, "Stages of Accumulation and Long Economic Cycles," in T. Hopkins and I. Wallerstein, eds., Processes of the World System (Beverly Hills: Sage Publications, 1980); S. Bowles, "Social Institutions and Technical Change," in M. Di Matteo, R. M. Goodwin, and A. Vercelli, eds., Technological and Social Factors in Long-Term Fluctuations (Berlin: Springer Verlag, 1989); D. M. Kotz, T. McDonnoug, and M. Reich, eds., Social Structures of Accumulation (Cambridge: Cambridge University Press, 1994).

            13. Putnam, Democracies in Flux.

            14. William Hinton, Turning Point in China, p. 20, quoted in Monthly Review 56, 3 (July-August 2004): 128

            15. James Petras, "Cultural Imperialism in the Late Twentieth Century," internet ed. www.cscsarchive. org:8081/MediaArchive/audience.nsf/.../A0240100.pdf

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