Peter Nolan is Sinyi Professor of Chinese Management at the Judge Institute of Management, Cambridge University, and Fellow of Jesus College, Cambridge University.

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• Introduction; 1. The Starting Point of Liberalization: China and the Former USSR on the Eve of Reform; 2. China's New Development Path: Towards Capitalist Markets, Market Socialism or Bureaucratic Market Muddle?; 3. Politics, Planning, and the Transition from Stalinism: The Case of China; 4. Democratization, Human Rights and Economic Reform: The Case of China and Russia; 5. Beyond Privatization: Institutional Innovation and Growth in China's Large State-Owned Enterprise (with Wang Xiaoqiang); 6. China and the Global Business Revolution; 7. The Challenge of Globalization for Large Chinese Firms (with Zhang Jin); 8. The Causation and Prevention of Famines: A Critique of AK Sen; Epilogue: Adam Smith and the Contradictions of the Free Market Economy: a Note