Instapaper Weekly – Jul 5, 2026

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Toward a Marxist State Theory of the Socialist Market Economy cosmonautmag.com The socialist market economy did not emerge from a theoretical blueprint. As Brdsgaard and Rutten document, it was the product of a specific and contested historical process unfolding across four decades of reform. The 1978 Third Plenary Session of the Eleventh Central Committee inaugurated substantial economic reform, and in doing so, opted to retain central planning as a primary mechanism of development. By 1984, the Twelfth Central Committee's Decision on Economic Restructuring introduced the concept of "planned commodity economy" the first official acknowledgement that commodity relations were compatible with socialism. The 1987 Thirteenth Congress produced the formula "state regulates market, market guides enterprises." After a period of retrenchment between 1989 and 1991, Deng Xiaoping's 1992 Southern Tour and the Fourteenth National Congress established the socialist market economy as the official goal. The SME was not theorized in advance and then implemented; it was rationalized in the course of being built, under conditions of political contestation
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