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THE VIEWS OF SOME ECONOMIC THEORIES ON THE ECONOMIC CRISIS OF CAPITALISM AND SOME LESSONS FOR VIETNAM
Abstract
After a brief analysis of the views presented in the economic theories of neo-liberalism, Keynes and Marx on the economic crisis of capitalism the authors of this article point out some methodological recommendations for the development of socialistic-oriented market economy in Vietnam. The experience of dealing with the crisis shows the importance of upholding the advantages of socialist regime: the leadership of the Communist Party in appropriate policyguidelines, the role of the Government in its consistent implementation of its policies, the role of the state's economic sector in sustaining the stability of the whole economy as well as in economic recovery, the contribution and support by the people for the common cause of development of Vietnam.
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Author and article information
Notes
F. Hayek, Law, Legislation and Liberty: Vol. 2, The Mirage of Social Justice (Chicago: University of Chicago Press, 1976), p. 115.
J. M. Keynes, The General Theory of Employment, Interest and Money (1936). Reprinted in J. M. Keynes, Collected Writings, vol. 7 (London: Macmillan; St Martin's Press for the Royal Economic Society, 1971-89), pp. 378-397.
Ibid., p. 379.
Interview with Ellen Meiksins Wood, "Democracy & Capitalism: Friends or Foes?" New Socialist Magazine, January 1996, www.newsocialist.org/magazine/01/article08.html
K. Marx, Grundrisse (London: Penguin, 1973), p. 334.