In Search of Legitimacy: The Private Entrepreneur in China

Private business is booming in China and the entrepreneurial spirit sweeps through the country. However, the apparent contradiction between Marxist ideology and private ownership has not been satisfactorily resolved. The ideological problems of labor exploitation and income polarization associated w...

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Bibliographic Details
Published in:Entrepreneurship theory and practice 1996-10, Vol.21 (1), p.21-30
Main Author: Tsang, Eric W. K.
Format: Article
Language:English
Subjects:
Analysis
Business enterprises
Capitalism
China
China (People's Republic)
Communism
Economic policy
Economic reform
Economic theory
Entrepreneurs
Entrepreneurship
Exploitation
Free enterprise
Ideology
Labor theory of value
Legitimacy
Marxist economics
Political economy
Political science
Politics
Power
Private enterprise
Private sector
Workers
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Summary:Private business is booming in China and the entrepreneurial spirit sweeps through the country. However, the apparent contradiction between Marxist ideology and private ownership has not been satisfactorily resolved. The ideological problems of labor exploitation and income polarization associated with private business have serious repercussions on policy implementation and have constrained the entrepreneurial development. Operating in a hostile institutional environment, many private entrepreneurs in China demonstrate some peculiar behavior seldom found In other countries. By using the concept of legitimacy, it is argued here that the entrepreneurs behavior is the result of their strategic responses to their less-than-legitimate status.
ISSN:1042-2587
1540-6520
DOI:10.1177/104225879602100102