The Debate about Possibility of Common Prosperity and Beyond:A Retrospective of Eco-nomic Thought and Chinese Pattern
The relationship between efficiency and equity is a classical debate in the history of economic thought.For common prosperity,it matters.Some economists believe redistribution will not destruct effi-ciency,or it can boost production.Other economists have opposite viewpoint and they believe the tradeoff between efficiency and equity is necessary.The formers support good governance.They confirm more equal distribution can improve production efficiency by human capital,regulating capital and aggregate demand.The latters support efficient market.They verify redistribution will destroy efficiency in a marketing econo-my with theories of incentive and information.Once we can keep useful parts of two kinds of contrary themes and discard others,the comprehensive theme of common prosperity will emerge.And then,we can have Chinese pattern of common prosperity in practice.
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