Blanquist
2nd May 2012, 22:33
Mao created "State and private joint-ownership" and had a "redemption policy". Mao just invested and participated in the administration of private business.
From 1949-56, businessmen were allowed to go about their business.
Then in 1956 he decided to start taking over these business's under a "fixed interest policy" He would pay the bourgeoisie a fixed rate of interest annually on the face value of the assets. So every month the 'former' bourgeoisie would get dividends even if the enterprises weren't profit making.
No wonder so many capitalists supported Mao, if they had left to Taiwan or America, they would have had to invest their money into profitable businesses and worry about administration, but under Mao they could just sit on their ass and get dividends no matter what.
These payments only stopped in 1966 during the so-called 'cultural revolution' that's 17 years after Mao came to power! And then we all know what happened, they got back into business and today are some of richest people on the planet.
This doesn't make any sense to me at all. How can this be justified by Socialists?
From 1949-56, businessmen were allowed to go about their business.
Then in 1956 he decided to start taking over these business's under a "fixed interest policy" He would pay the bourgeoisie a fixed rate of interest annually on the face value of the assets. So every month the 'former' bourgeoisie would get dividends even if the enterprises weren't profit making.
No wonder so many capitalists supported Mao, if they had left to Taiwan or America, they would have had to invest their money into profitable businesses and worry about administration, but under Mao they could just sit on their ass and get dividends no matter what.
These payments only stopped in 1966 during the so-called 'cultural revolution' that's 17 years after Mao came to power! And then we all know what happened, they got back into business and today are some of richest people on the planet.
This doesn't make any sense to me at all. How can this be justified by Socialists?