The system of property rights experienced the evolution from classic system of property rights to modern system of property rights. Restricted by classic system of property rights, the two characteristics of the labor market of our country determine that the market price of pay must be low, which leads to the income of quite a large number of employers being low for a long tine and causes large income distribution gap and inefficiency of overall consumption demand. Therefore only by establishing modern system of property rights is can the problems of large income distribution gap and inefficiency of overall consumption demand be solved. Modern system of property rights is the economic foundation for constructing harmonious society.
|Establishing Modern System of Property Rights and Solving Inefficiency of Consumption Demand
|Published - 2007