Preliminary Construction of Plan-Oriented Market Economy System in the Information Era

* Big Data, Platform Economy and Market Competition: A Preliminary Construction of Plan-Oriented Market Economy System in the Information Era. Binbin Wang and Xiaoyan Li. World Review of Political Economy, Vol. 8, No. 2 (Summer 2017), pp. 138-161

URL = http://www.jstor.org/stable/10.13169/worlrevipoliecon.8.2.0138?seq=1#page_scan_tab_contents

Abstract

"Whether the planned economy, as one of the two main economic systems, can be reconstructed in the era of big data is an extremely important proposition in theory and reality. With the great debate on the feasibility of the planned economy in the 1930s, Lange model of centralized planning and market simulation came into being. After the information revolution in 1970s, the thought of planned economy characterized by market democracy and model of “democratic planned participatory socialism” rose in the west and the plan-oriented market economy system is expected to build in the era of big data. This kind of economy system should coordinate centralized planning and democratic planning, take big data as technical condition, platform economy as institutional and organizational conditions, to forming the big data–based and state-owned enterprises leading operated Internet platform economy in the field of competition, which can achieve to “make the market play a decisive role in the allocation of resources and the state play the leading role,” and achieve the comprehensive goals of reflecting consumer preferences, playing a role of law of value, highlighting the guidance of industrial planning, strengthening macro-control and reducing the cost of bureaucracy."

Authors

Binbin Wang, PhD in Economics, is Associate Professor at the School of Marxism, Sichuan University. His research area covers political economy, ecological civilization, and sustainable development of region. Email: [email protected]

Xiaoyan Li, PhD in Economics, is Associate Research Fellow at the Institution of Agriculture Development Research, Sichuan Academy of Social Sciences. Her research focuses on resources and environmental economics. Email: [email protected]