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Third ways

author Ivan Szelenyi publish : 2011/11/17 0:00:00   hits :  1531
This article compares the Chongqing model of the “third hand” with various
theories of the “third way” in late socialist Eastern Europe. The third hand is
praised as an intriguing attempt to offer an alternative to the invisible hand
of the free market and the redistributive hand of state socialism. Funding of
public goods from capital gains from government-owned land and real estate
is an innovative idea, but it is unclear whether it is a sustainable proposition.
China may be developing a real estate bubble similar to the one that has recently
burst in the United States and continental Europe. The key question is:
can prices of land and real estate grow indefinitely faster than wages?

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