Theoretical Paradigm, Institution Base and Implementation Mechanism of the Market Order
Kai Tang Hu · Journal of Hunan University of Commerce · 2010
The market order refers to the operation rule of the market and the obedience to the rules.It has two kinds of theoretical paradigms: competition and institution which respectively propose the rule system and the key aspect.Currently it is necessary to unify the paradigms and strengthen the institution foundation of the market order.The institution foundation is the property right and the contract.The coordination mechanism between the property right and the contract should center on the property system’s validity which adapts contract transaction needs.And they construct the base of the effective competition.Market order's implementation mechanism includes the self-implementation and the third party implementation.The competition,the property right,the contract and the government constitute the basic elements of the market order.