Seeking to reform the stability of the form

 First, balance the interests of reform and reform of the stability of the
is a system change. The economic system generally has three functions: motivation, resource allocation and benefit distribution. Regime change will inevitably bring about changes in the efficiency of these three functions. Incentives and resource allocation efficiency, will be given directly to the quantity and quality of resources for higher productivity. ① But if the incentive and resource allocation to improve the process of uneven distribution of interest, will increase the cost of reform, the reform will become even The main part of the consideration. This is because (1) If in the reform process that some people will suffer losses, these people will openly or secretly, or uncooperative attitude of resistance and increase the cost of promoting the reform; (2) the distribution of benefits also a direct result of unfair friction between different interest groups, these direct losses caused by friction as the cost of the reform; (3) the uneven distribution of benefits can lead to non-compliance or even destroy the existing economic order, and the destruction of the order itself is a social loss; (4) reform of the existing pattern of interests arising from the destruction would lead to greater social unrest (such as the Qiang Goufeng 1988), this social unrest or can not give stable expected, or need people to pay a higher price to be overcome.
reform and the effort required, the situation is often a function of the distribution of benefits. In the past 10 years, some reform measures to promote the rapid expansion and a little popularity of the implementation of some reform measures had a hard time. The reason is that the distribution of benefits issues. general reform was smooth with two conditions: (1) This reform will benefit the interests of all parties; (2) even for a may cause damage to a party, because one party (such as the Central Government) to take this loss, and will not cause a conflict of interest. The most typical example is China's agricultural reform. contract responsibility system in rural areas will benefit in the various interest groups ; the increased price of agricultural products, may damage the interests of urban residents, the Central Government to take the form of financial subsidies to this loss. from the perspective of the distribution of benefits, both to understand the success of rural reform, rural reform can be seen limit. This is the Central Government's commitment to the interests of ultimate loss limit. contrary example is the price reform. China has experienced several plans for price reform, a break through the barrier, but was not successful. On the surface, the price reform of frustration in the Qianggou Feng is essentially due to price inflation may be caused by the reform will change the existing pattern of distribution of benefits. the majority of residents consider the devaluation of deposits out of fear, run on its deposits, buying stock is a very natural thing. can be seen that the balanced distribution of benefits determine whether or not the cost of promoting reform. What is more, the cost of the reform process in the history not only works, but will gradually into people's expectations. When the expected cost of the reform is equal to or exceeds the benefits of reform, the reform an impasse. On the contrary, the reform will be much smoother.
balance the interests of the destruction of many forms, but mainly for two typical forms: (1) Although the implementation of the reformers to bring the new society as a whole interests, their own individual interests have suffered a loss; (2) implementation of the interests of the reformers that they have gained more than its benefits to society created, which means that some are not implemented by the damage the interests of the reformers. these two cases can be referred to as externalities, ie social benefits and personal benefits, social costs and personal costs are not the same problem ①. the first case is a typical instance of how local protectionism and local governments to problem. When all local governments to take local protectionism, if a local government hastily reforms and not received due to other local governments, provide the market, while losing their market suffered a loss. At this time, the reformers that they will return to protectionist policies. The second situation is a typical example of the price reform . In general shortage conditions, if the whole society to the planned price companies have a business to market pricing, it gets additional benefits not only the benefits of market prices, but also include other companies pay the cost, then other businesses may be attacking it. The description of these circumstances, the reform measures, if the benefit is not balanced on the reform process will inevitably lead to instability, it will increase the resistance to reform, even society can not successfully lead to the old and new institutional arrangements through the uncertain area between.
view of this, we must take some remedial measures to eliminate or mitigate potential conflicts of interest of reform. complemented by reform of the remedial measures There are usually two, a Although the purpose of those incentives and resource allocation in terms of a positive effect, but it may cause the loss of other interest groups in the smaller limited reforms, within the relatively closed to reduce the balance of interests of such reform the impact of specific policies such as the SAR. The two temporary remedies to ease the conflict of interest, but increased the complexity of the reform and reform of the difficulty of design, and not only can not eliminate but will accumulate and enlarge the uneven distribution of benefits. Subsidies Reform means to have an abundance of purposes. because not completely severed economic ties, the implementation of specific policy areas inevitably give neighborhood, or other interest groups to bring some of the damage. This may lead to other areas and conflict, or will cause to the Central Government requires a benefits arising from the reform measures and the resulting instability is not balanced, but in order to simplify or get rid of the complex was less effective reform of the remedial measures, so far there have been two similar but different idea. something called ; march institutional arrangements from the old to skip the middle step in the transition phase, direct access to the stability of the new regional institutional arrangements. However, these two ideas are very difficult to put into practice. reform is bound to be a transitional and progressive. does not mean the transition process of reform must be unstable. In my opinion, with the following condition can guarantee the stability of the transition period of reform: (1) reform must recognize and protect the interests of the stock distribution of balance, that recognize the existing pattern of interests (which of course does not include recognition of the inequitable distribution of the phenomenon). (2) any economic gain additional benefits through the reform of individual behavior for any other economic interests of the individual is neutral, no harm to their interests, not to increase their income. that is, who who benefit reform, not reform is not impaired. (3) The feeling of the existence of relative income, the second can be relaxed. individuals can reform the economy to some extent some of the benefits to the non-reformers, But this should be controlled in the interests of giving a certain extent. exceed this limit, the reformers and non-reformers are likely to participate or continue to lose the momentum of reform.
reform will meet the above conditions has the following properties: ( 1) As the reform will benefit the reformers themselves, such reforms need not command, but on a voluntary basis. which would address the issue of reform momentum. (2) Since the reform and the impact of other non-reformers is in the interests of in nature, in every economic entity has the right to choose reform or no reform of the situation, reform is the reform of one economic entity, rather than the economic interests of the individual friction does not exist, this reform not only in time and in space is gradual, progressive proliferation. (4) Because of this reform recognize the existing pattern of interests, which is based on the reality-based reform. ( 5) The stability of the reform must be the minimum cost of the reform, and therefore the greatest chance of effective reform. seeking to reform the stability of the form, the reform will be central to the theory and practice.
Second, the rights plan, plan obligations, the Government power and personal administrative agency
the interests of our traditional system is relatively balanced pattern. This balance of interests is of course the specific nature of the traditional system by the decision. from the operation point of view, the characteristics of the traditional system is the plan. plan performance of the concrete implementation of the physical transfer of the enterprises. For example, under the arrangements in the plan, the enterprise of products transferred to a company B, company B as the inputs. At this time, between the two enterprises had a pair of relations: B. A business enterprise is obliged to provide a certain amount of the company's products, business to business B has the right to ask for a certain amount of inputs. This relationship we call the right plan and program obligations. As the name implies, this is the origin of the planned rights and obligations of the economic system.
In reality, due to the presence of thousands of enterprises and between them more complex input-output relations, corporate and business plans directly between the rights and obligations of almost plan does not exist. In order to solve the n-M users to the manufacturers of the physical distribution of the complex issues, using the traditional system of government in the form of bureaucratic organization. This plan rights and obligations reflected in the plan between business and government, government institutions and government agencies. When the hierarchical organization by the government and reflected plans link the rights and obligations plans to have the same rights and plan to plan based on the authority of government obligations. In the past the theory has been that the power (Power) origin on the right (Right) ①, but often exceed the limits of the right. In general, equal rights are enjoyed by every economic entity; and power of the individual is expressed as an economic ascendancy of another economic entity, in the bureaucratic organization the performance of higher and lower levels of command and obedience relationship. for the allocation of physical resources, the government established hierarchical organization, itself implies a kind of power structure. In this way, planning obligations on the rights and planned by the government the power of the bureaucratic organization covered up. In other words, the right to become a manifestation of power.
planned distribution in order to ensure the physical balance of the price system maintenance plan, to plan and program rights obligations of the authority of government based on new powers must be derived. These powers include: (1) the shortage of products to buy exclusive monopoly rights, such as from the purchase and sale of food to all industrial goods purchase and sale; (2) the right of the shortage of rations products, such as grain, cotton and other agricultural and industrial ration goods; (3) the production of high-profit industrial concessions, such as cigarettes, textiles, mineral products at low prices of agricultural raw materials for industry; (4) prohibition of certain plans low prices in the producers exit the industry, industry power, such as the prohibition of farmers out of agricultural production areas; and so on. These powers, or scattered among various government agencies economic function, or focus on some of the administrative judiciary, government professional, or financial management. all functional departments (such as Gongxiaozongshe, Department of Commerce, Purchasing Department, Ministry of Foreign Trade and the Ministry of Industry) to enjoy such powers, authorities (such as the Public Security Bureau, Commerce and Industry Authority) to ensure that these powers. If you do not take into account the legal nature of the authority of government, these powers in the economic on the performance of a monopoly on the market, or market power (Market Power), which prevent people from freely entering or exiting the power to obtain economic benefits.
At this time, plan and program rights obligations will exceed the original meaning of the meaning of some kind transfer. In general, the shadow price at below market prices to obtain a certain amount of program resources in short supply right plan can be considered to plan the shadow price lower than the market price over a certain amount of lack of products considered plan obligations. plan rights and obligations of intuitive performance of planned product or resource shortages, government power contains the same economic capacity ①. In practice, the Government of power from specific individuals (such as the Minister, Secretary, Director, etc.) agents to exercise, in the absence of effective administrative monitoring mechanism, the Government authority may degenerated into personal power. there are plans in the balance of the macro context, some people will use their power for their own profit administrative agency. However, because this behavior is also a lack of effective means of transaction is limited within a certain extent.
Third, circulation areas: planning the rights and obligations of the monetary
plan emerged after the dual pricing system reform, not only for products and resources, the incremental part of super scheme provides a means of exchange, and stock of parts for the scheme to provide the price reference. If the plan under the traditional system of rights and obligations and the resulting plans of governmental authority is contained in the amount of economic potential, and vague, the introduction of dual-track system, the initial formation of a relatively independent of the market after the right plan and planning obligations to be multiplied by the difference in kind by the City, the number of licenses simply calculated as the eyes can not help each individual calculation of economic benefits or costs. In this case, the planned distribution system itself had two variants: (1 ) economic plan in the performance of individual obligations, try to choose a small post card market products; in the realization of the rights plan, try to select the largest product licensing market spreads. This tendency to make the program select the function of distribution system shifted the distribution of benefits from the distribution in kind. (2) The plan includes the rights and obligations of a growing number of programs the value of implicit, and plans to fulfill obligations under the right plan can not meet the production needs of a particular kind, resulting in these plans assume the rights and obligations of those who plan (or the between economic agents some degree of balance of interests and have a certain rigidity. but at the same point of view but also from the existence of micro-and continue to produce the benefits are not balanced, contains friction between different interest groups. so we met a dilemma: economic track system and its products in-kind swap market, not only in fact the exercise of the industry in our country the main function of resource allocation, and at the macro level represents the interests of a balanced distribution pattern; but is also at the micro and the inequitable distribution of common breeding ground for corruption. back to the old system is almost impossible, because it will not only decrease the efficiency of existing resources, and will take the risk of breaking the existing balance of interests. And the total eradication of this area injustice and corruption in the distribution of an effective measure is the implementation of price reform. But this way, it is very likely to cause inflation and uneven distribution of benefits of new, and even social unrest.
a practice that can be considered rights and obligations of plan monetization program. Since the number from the macro perspective, the plan by the rights and obligations of each plan are intertwined together constitute the enterprise or the balance of interests among government agencies, since these plans not only to their respective rights and obligations as a plan economic capacity, but also evident in the amount of a currency, is planning powers and obligations of the monetization program, but is a recognition of the existing macro-pattern of interests, but is another way to balance the interests of the expression. For example, a business undertaking to its Office turned over 100 cheap car plan obligations, monetary obligations of such a plan means that the enterprise does not directly hand over the price according to plan 100 cars, but the car turned over to the market price (say, 4 million) and the planned price (for example, 2 million) multiplied by the difference between the amount of money received 100 (200 million). On the contrary, the company owned by its Office to ask a certain amount of inexpensive materials can follow the plan method of monetary rights of. The currency of the existing plan in any way the rights and obligations of the business plans or government agencies to achieve. At the same time will not affect other interests of economic entities, so that any economic entity can be the case according to their own independently choose or not choose the currency of the method. For example: If a company plans to hand over a certain amount of product into a certain amount of the obligations of the amount of money, it can sell these products in the market, the price will be higher than planned income to the Office, the Office can either be handed over to the city of quantitative monetary Materials Bureau, and can use this money plus the amount of currency to buy cheap products in the market to buy the corresponding amount of the same product , scheduled to price goods Bureau to fulfill its plan obligations. and so forth, and so on.
rights and plans to achieve planned monetization of the important obligations of the institutional arrangements is the open market. The basic meaning of open market trading process, price and quantity of information made public. can be used between two specific forms of consultation, commission and open auction trading, including spot and futures. It can be dual-track system with the economy arising from various forms of market organization (such as the Industrial Trade Center ) and developed.
open market in order to plan for the realization of rights of way and plan the case of monetary obligations, the distribution of physical swap market will injustice and corruption be effectively suppressed. First, open market transactions excluded the existence of private transactions in a large number of charged high commissions phenomenon. number of transactions to form the more stable market equilibrium price for people to provide a clear message basis. transaction information into the open simplifies the supervision of trading activities. Second, rights and obligations of plan plan plan makes monetary obligations of the rights and planned forms of power from the government freed a more purely economic relationship, in turn, inhibit the abuse of power behavior. Third, the emergence and maturity of the open market, making the there are still plans rights and obligations under the plan appeared in the market equilibrium, the original market value contained in the shortage has been fully released, so that those who plan to maintain a balanced and to prevent entry or exit of the derived free government power (such as a product monopoly or exclusive rights) has no longer necessary, it will naturally tend to die out. that depends on such administrative monopoly will lose access to the interests of the preconditions.
On the other hand, the right plan and planning obligations and would not lead to monetary inflation. First, the sale of the rights plan and program obligations in the open market price, but the release of the performance of the shortage, while the shortage is already the existence of a hidden inflation. s Second, under the conditions of the dual pricing system, a large number of cheap goods has in fact passed into the various channels to market areas and links (though not so openly), plan and program rights obligations in fact have a different degree of monetization (although both There are also illegal and legal), a large number of user enterprises has actually suffered the market price of raw materials. So, open markets and plans to establish the rights, obligations of the monetary program, but was ruled out illegal acts under the premise of monetary recognition the current price level has been reached. Third, when a large number of program resources and products into the market after the market supply and demand will change the contrast, resulting in a modest decline in market prices. Fourth, the plan rights and obligations of the monetary program is not changing the existing balance of interests, and thus will not bring as part of a comprehensive price liberalization as the loss of interest groups, it will not be required to make up for the loss of pressure, forcing the central government and banks to increase subsidies and loans. Fifth, the right plan and planning obligations need additional money is actually a lot of money, the additional amount of money roughly equivalent to the difference multiplied by the municipal licensing scheme on behalf of the rights and obligations of the kind planned amount (in unit time) divided by the velocity of money. in the appropriate monetary policy, only the prices of worry. Sixth, the plan rights and obligations of the monetary program of economic individuals can voluntarily choose, from the overall performance of a progressive look too strong, even if the shortage will bring the release of to some kind of impact is relatively minor.
plan rights and obligations of the monetary program, although not to break the existing balance of interests, there is the profound meaning of institutional change. In addition to eliminating corruption in circulation outside the change allocation of resources to bring the benefits and incentives, which will bring new social wealth. First, it did not cause prices to pass through the case of a shock, actually achieve the goal of price reform; second, material to provide parity for government institutions, the use of money instead of real obligation to carry out its plans, although the surface is equivalent to, but in practice the process is saving a lot for the kind swap, transportation and warehousing transaction costs; third, from the whole market, swap market into real money as the medium of the market is bound to bring the efficiency of the entire market transactions increase or decrease in transaction costs; Fourthly, for the enterprises, although with the money instead of physical products to fulfill their obligations Office program appears to be equivalent, but this change has given enterprise production and management has brought more choices. Fifth, the change between the enterprise and government , lower levels of government and change the relationship between higher levels of government laid the foundation. with a word, money making enterprises and the government of the specific rights and obligations become rights and obligations in general.
four medium-sized Enterprise: Planning obligations for property rights and program plans of
rights and obligations of the monetary program itself implies not only those rights and obligations rights and obligations in the original commitment of a sale between individuals on the economy, but in any economic transactions between individuals. This means that programs and program rights obligations of the market in the commodity itself, the specific performance of the
open when the spot and futures market development and mature, when firms adjust production for the market price structure and direction of investment after the planned price and the difference between the market price will be relatively stable in the long run a certain number. At this time, plan more and more obvious right to a benefit performance for the right to request, and proceeds to ask the right contains the concept itself has such a right to ask the object of their economic entity has a certain amount of property. We can gain the right to request inverse number of the number of property owners. In this case, the plan is converted into property rights. In people's minds, ask for a certain amount of parity of resources or products after the right to change the currency of the intermediary to ask for share dividend or the rights of bond interest. plans to become the owner of the rights of creditors or shareholders.
plans once into a property right to its further transaction has provided preconditions. economic agents have for their own equity and debt as have other physical assets, can be disposed of; such enterprises can be between themselves and the property of the Office of the rights and obligations of the offset into a Office can also spend money to buy their own property rights. more convenient form, these debt or equity into the form of stock or bonds to market, any > This can also, by extension. In the traditional system, the planned addition to the rights and obligations of physical products, programs and resources, it also includes some other scarce resources and the allocation of concessions or demand, for example: the amount of investment, loans limits, approval documents of foreign trade and foreign exchange lines and more. and the right to ask for different kind of program, this program is the intangible right to some extent, the reform in 10 years, has not developed similar to the product market as the amount of the market ( foreign exchange swap centers is an exception). Thus the rights of such programs and plans for monetary obligations of such indicators first requires the establishment of trading, credit, approval documents, and so on the open market, in order to realize these plans the value of the rights and obligations of evaluation plans. To This more accurate assessment of financial resources, but also to a certain extent, permitted the development of private finance in order to give a more accurate market interest rates. the price line of credit under the plan is equivalent to state-owned banks the difference between interest rates and market interest rates by amount of money to the amount of this investment. Other lines, indicators, and other documents of approval similar to the situation. After the formation of the open market, a business can be a certain amount to the competent Authority for the investment amount, you can also ask for the amount of money to buy the appropriate amount of . Suppose a 10 enterprises under the Industrial Development Bureau, each firm has the same rights to their offices for investment quota, it is equivalent to the Office that they have the right to ask for a total investment of their own degree of market prices 1 / 10 the amount of money. It is clear that such a right is a right of return request. These 10 companies are free to ask for this kind of income right into property, become part of the Office of creditors or shareholders.
previous reform will property rights between the government and business relations between only be understood as profit, while ignoring monetary no plans to change the rights and obligations of the hidden role of book profits (for example, the equivalent of the Government to reduce supply of cheap goods reduce profits), so from a profit-sharing , profit delivery to the profits on contracts and other efforts in the reform of the profit split, ultimately failed to draw a clear line between business and government property boundaries, to achieve the purpose of separating government and enterprises. When business and government between the rights and obligations of all programs through monetary become property of the intermediary, a variety of hidden interests have become clear assets and liabilities, debt and debt, the relationship between business and government to have undergone substantial changes, from the affiliation between the upper and lower levels becomes equal traders. In this way, companies from the corporate name change has become the de facto legal.
On the other hand, between the enterprise and the workers there are plans for a series of rights and obligations. For example: corporate obligation to provide workers with free medical care, workers have the right to the business requirements of the distribution of housing, in turn, corporate duty to send in the enterprise during the suspension in whole or in part of the wages, and so on. If implemented the commodification of housing, and establish a health insurance and unemployment insurance market, between enterprises and workers rights and obligations of these currencies can be evaluated, in order to achieve monetization. For example: If there is an unemployment insurance market, companies can not fire workers with the obligation to be equivalent to normal amount of money to all workers within the enterprise companies in the unemployment insurance coverage. when there is bad, remove from the insurance company insurance for the payment of wages to workers of their dismissal. will be the monetization of such rights and obligations to the equivalent of business Usually the workers and unemployment insurance payments equal sum of money, workers or the unemployed to take money from insurance companies themselves, or think they will not be dismissed for other purposes. monetized between enterprises and workers rights and obligations can also be property right. because of the performance of those rights and obligations as demanded as a right of return. the right to ask for some of these gains would have to have a stake in nature, such as retained profits in the incentive fund and collective welfare fund is actually the form of a share dividend. Some of both can be transformed into claims can be turned into equity, the workers also have the right to freely dispose of their equity or debt in the hands. so that the traditional system of enterprises and workers in the special bond between be solved.
when business and government, workers and other aspects of the rights and obligations have become a corporate balance sheets in the various subjects, we found that under the traditional system of state-owned enterprises but it was a stock company. ; in turn, rights and obligations of the evaluation have been the market, which means that the whole enterprise has been the evaluation of the market means that property rights are clear. At this time, the value of assets of a business enterprise is no longer considered net fixed assets, but by the after-tax corporate profits and return on equity determined by the ratio of market interest rates, from corporate stock market price. Thus, without prejudice to the government, enterprises and workers, under the premise of the interests of all plan Property rights and obligations of plan implementation in practice of the enterprise reform has been the goal: a clear and accurate evaluation of corporate ownership structure the value of enterprise assets. Once you reach this goal, to bring both incentives and the benefits of resource allocation, which also bring additional benefits, and also defined the identity of the shareholders, which constitute the basis for corporate members of the general meeting. the relevant government agencies will serve as an important shareholder of the board of directors, the Government towards the external intervention will become the board's internal decision-making; Accordingly, the business operators from the current contract with the contractor of the Government into the board's employees.
when the property rights of the plan and program obligations in the form of stock or bond market, enterprises reallocation of resources to obtain a convenient means. enterprises into bankruptcy to clear debts and liabilities of the clean-up, mergers between companies or buy shares through the exchange realized in the form; Enterprise Group by related companies to exchange part of the stock built up. When the workers and the rights and obligations between enterprises of the future of property rights, workers and enterprises to get rid of the special relationship between the more easily flow between the enterprise.
five, the local government: business and government functions separation of the functions of the rights plan and plan
monetary obligations and property rights of not only a significant impact on enterprises, which in turn on relevant government agencies and business impact. When government agencies and business plans between the rights and Plan obligations and rights of future monetization, the enterprise will be the government agencies themselves. For example, in a planned economy in the Bureau of the obligation to provide material goods parity, when the obligations of ownership of such a plan after the Board will become a material from affiliated enterprises as part of the shareholders of the operating company. Thus, a government agency such material bureau not only turned into a business, and is an economically constrained by the company related businesses. Other government agencies with enterprise functions will be similar entrepreneurial process. When this process is completed, with the business functions of government agencies will naturally separate from the government, reflecting the rights and plans for planning obligations and corporate functions will be reflected in the functions of governmental power separate from the government come. enterprise of the former government property would be a clear legal boundaries and structure, and has compared the Government's own independent interests.
rights and programs in planning monetary obligations and property rights, government enterprises functions of the institutions into enterprises with the separation of government functions and the circumstances, local separatist regimes is likely to reverse the phenomenon, the phenomenon of duplication is likely to be inhibited. This is because: (1) When planning the realization of the rights and obligations of the currency plan of the open market, and these markets to achieve a balance after a local government to prevent an outflow of resources shortage of product or does not make sense. The reason is the shortage of resources will be used to stay in the region, or sold on the market, is equivalent in value. This explains the open market monetary and eliminate the power derived from government (exclusive monopoly rights) of the premise. (2) the rights and programs through planning obligations of the Property Rights actually obtained legal status of the enterprise, the virtual elimination of government intervention in their operations, purchase and sales will no longer take orders from the government, for its own sake is more willing to face the national market purchases and sales. (3) enterprise the original government agencies in order to gain more benefits ...