A market economy is an economy in which the prices of goods and services are determined in a free price system. This is often contrasted with a state-directed or planned economy. Market economies can range from hypothetically pure laissez-faire variants to an assortment of real-world mixed economies, where the price system is under some state control or at least heavily regulated. In mixed economies, state-directed economic planning is not as extensive as in a planned economy.

In the real world, market economies do not exist in pure form, as societies and governments regulate them to varying degrees rather than allow full self-regulation by market forces. The term ''free-market economy'' is sometimes used synonymously with market economy, but, as Ludwig Erhard once pointed out, this does not preclude an economy from having social attributes opposed to a laissez-faire system.

The term used by itself can be somewhat misleading. For example, the United States constitutes a mixed economy (substantial market regulation, agricultural subsidies, extensive government-funded research and development, Medicare/Medicaid), yet at the same time it is foundationally rooted in a market economy. Different perspectives exist as to how strong a role the government should have in both guiding the market economy and addressing the inequalities the market produces. This is evidenced by the current lack of consensus on issues such as central banking, and welfare.

It is also possible to envision an economic system based on independent producers, cooperative, democratic worker ownership and market allocation of final goods and services; the self-managed market economy is one of several proposed forms of market socialism.

Systems

Although no country has ever had within its border an economy in which all markets were absolutely free, the term typically is not used in an absolute sense. Many states which are said to have a market economy have a high level of market freedom, even if it is less than some parts of the population would prefer. Thus, almost all economies in the world today are mixed economies with varying degrees of free market and planned economy traits. For example, in the United States there are more market economy traits than in the Western European countries (an exception being the UK, which is considered, even by Greenspan, to be a freer market than the US).

Capitalism

Capitalism generally refers to an economic system in which the means of production are all or mostly privately owned and operated for profit, and in which investments, distribution, income, and pricing of goods and services are determined through the operation of a market economy. It is usually considered to involve the right of individuals and groups of individuals acting as "legal persons" or corporations to trade capital goods, labor, land and money.

Capitalism has been dominant in the Western world since the end of feudalism, but most feel that the term "mixed economies" more precisely describes most contemporary economies, due to their containing both private-owned and state-owned enterprises, combining elements of capitalism and socialism, or mixing the characteristics of market economies and planned economies. In capitalism, there is no central planning authority but the prices are decided by the demand-supply scale. For example, higher demand for certain goods and services lead to higher prices and lower demand for certain goods lead to lower prices.

Laissez-faire

Laissez-faire is synonymous with what was referred to as strict capitalist free market economy during the early and mid-19th century as an ideal to achieve. It is generally understood that the necessary components for the functioning of an idealized free market include the complete absence of government regulation, subsidies, artificial price pressures and government-granted monopolies (usually classified as coercive monopoly by free market advocates) and no taxes or tariffs other than what is necessary for the government to provide protection from coercion and theft and maintaining peace, and property rights.

Milton Friedman and Friedrich Hayek stated that economic freedom is a necessary condition for the creation and sustainability of civil and political freedoms. They believed that this economic freedom can only be achieved in a market-oriented economy, specifically a free market economy. They do believe, however, that sufficient economic freedom can be achieved in economies with functioning markets through price mechanisms and private property rights. They believe that the more economic freedom that is available, the more civil and political freedoms a society will enjoy.

Friedman states:

"Economic freedom is simply a requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction it reduces the area over which political power is exercised" Friedman, Milton and Rose Friedman, ''Free to Choose: A Personal Statement'', Harcourt Brace Jovanovich, 1980, p. 2-3

"Capitalism is a necessary condition for political freedom" Capitalism and freedom

Studies by the Canadian libertarian think tank Fraser Institute and the American conservative think tank Heritage Foundation state that there is a relationship between economic freedom and political and civil freedoms to the extent claimed by Friedrich von Hayek. They agree with Hayek that those countries which restrict economic freedom ultimately restrict civil and political freedoms.

Generally market economies are bottom-up in decision-making as consumers convey information to producers through prices paid in market transactions. All states today have some form of control over the market that removes the free and unrestricted direction of resources from consumers and prices such as tariffs and corporate subsidies. Milton Friedman and many other microeconomists believe that these forms of intervention provide incentives for resources to be misused and wasted, producing products society may not value as much as a product that is valued as a result of these restrictions.

Social market economy

This model was implemented by Alfred Müller-Armack and Ludwig Erhard after World War II in West Germany. The social market economic model is based upon the idea to realise the benefits of a free market economy, especially on economic performance and high supply of goods, while avoiding disadvantages such as market failure, destructive competition, concentration of economic power and anti-social effects of market processes. The aim of the social market economy is to realize greatest prosperity combined with best possible social security. As a difference to the free market economy the state is not passive, but actively takes regulative measures. The social policy objectives include employment, housing and education policies, as well as a socio-politically motivated balancing of the distribution of income growth. Characteristics of social market economies are a strong competition policy and a contractionary monetary policy. The theoretical fundament is build on ordoliberalism, Catholic social teaching and Democratic Socialism.

Market socialism

Market socialism refers to various economic systems in which the state owns the economic institutions and major industries but operates them according to the rules of supply and demand. In a traditional market socialist economy, prices would be determined by a government planning ministry, and enterprises would either be state-owned or cooperatively-owned and managed by their employees. The distinguishing feature between non-market socialism and market socialism is the existence of a market for the means of production, and the criteria of profitability for public enterprises; which can either be used to reinvest in production or finance government and social services directly.

Libertarian socialists and left-anarchists often promote a form of market socialism in which enterprises are owned and managed cooperatively by the workers so that the profits directly remunerate the employee-owners. These cooperative enterprises would compete with each other in the same way private companies compete in a capitalist market. An example would be Mutualism (economic theory).

Socialist market economy

The People's Republic of China currently has a form of market socialism referred to as the socialist market economy, in which most of the industry is state-owned through a shareholder system, but prices are set by a largely free-price system. Within this model, the state-owned enterprises are free from excessive micromanagement and function more autonomously in a decentralized fashion than in planned economies. A similar socialist-oriented market system has been implemented in Vietnam following the Doi Moi reforms.

Criticisms

Robin Hahnel and Michael Albert

"(...) claim that markets inherently produce class division" {divisions between conceptual and manual laborers, and ultimately managers and workers, and a de facto labor market for conceptual workers}. Albert says that even if everyone started out with a balanced job complex {doing a mix of roles of varying creativity, responsibility and empowerment} in a market economy, class divisions would arise. Without taking the argument that far, it is evident that in a market system with uneven distribution of empowering work, such as Economic Democracy {the model of market socialism David Schweickart has developed and refers to as "economic democracy"}, some workers will be more able than others to capture the benefits of economic gain. For example if one worker designs cars and another builds them, the designer will use his cognitive skills more frequently than the builder. In the long term, the designer will become more adept at conceptual work than the builder, giving the designer greater bargaining power in a firm over the distribution of income. A conceptual worker who is not satisfied with his income can threaten to work for a company that will pay him more (...)". Therefore according to this critique class divisions would arise inevitably.

Another practical objection is the claim that markets do not take into account externalities (effects of transactions that affect third parties), such as the negative effects of pollution or the positive effects of education. What exactly constitutes an externality may be up for debate, including the extent to which it changes based upon the political climate. Some proponents of market economies believe that governments should not diminish market freedom because they disagree on what is a market externality and what are government-created externalities, and disagree over what the appropriate level of intervention is necessary to solve market-created externalities. Others believe that government should intervene to prevent market failure while preserving the general character of a market economy. In the model of a social market economy the state intervenes where the market does not meet political demands. John Rawls was a prominent proponent of this idea.

See also

Free market

Market

Economic freedom

Market socialism

Mixed economy

Planned economy

Regulated market

References

Category:Capitalism Category:Economic systems Category:Economic ideologies Category:Economic liberalism Category:Economies

af:Vryemarkekonomie ar:اقتصاد السوق be:Рыначная эканоміка ca:Economia de mercat cs:Tržní ekonomika da:Markedsøkonomi de:Marktwirtschaft et:Turumajandus es:Economía de mercado eo:Merkata ekonomio eu:Merkatu-ekonomia fa:اقتصاد بازار fr:Économie de marché ko:시장 경제 hr:Tržišno gospodarstvo ka:საბაზრო ეკონომიკა lo:ເສດຖະກິດຕະຫຼາດ arz:اقتصاد السوق الحر nl:Markteconomie ja:市場経済 no:Markedsøkonomi nn:Marknadsøkonomi ps:د بازار وټه pl:Gospodarka rynkowa pt:Economia de mercado ro:Economie de piață ru:Рыночная экономика simple:Market economy sk:Trhová ekonomika fi:Markkinatalous sv:Marknadsekonomi ta:சந்தைப் பொருளாதாரம் tr:Serbest piyasa ekonomisi uk:Ринкова економіка vi:Kinh tế thị trường zh:市场经济

The socialist market economy or socialist market economy with Chinese characteristics is the official term used to refer to the economic system of the People's Republic of China after the reforms of Deng Xiaoping. It is also referred to as socialism with Chinese characteristics. Similar though much less extensive reforms were undertaken in Vietnam, where the economic system is called the Đổi Mới (lit. "New Age", trans. "Renovation"), respectively. It consists of a mixture of economic planning with a market economy.

Description

Deng Xiaoping, after the failure of the Great Leap Forward, was willing to consider capitalist methods of economic growth so as to revitalise China's economy. However, in doing so, he remained committed to centralized control and the one-party state.

The socialist market economy is a concept first proposed by Deng Xiaoping in order to incorporate the market into the then planned economy in the People's Republic of China, then Đổi Mới in Vietnam. Following its implementation, this economic system has supplemented the centrally planned economy in the People's Republic of China, and the high growth rates in GDP during the past decades have been attributed to it. Within this model, privately owned enterprises are a major component of the economic system, along with the central state-owned enterprises and collective / township village enterprises.

However, the fundamental distinction between the Chinese and Western mixed-market economy models lies less in the implementation of the mixed economic model but rather in the underlying authoritarian political philosophy, which eschews Western notions of democracy, individual rights, and the rule of law.

The private sector

Most of the economic growth in China is attributed to the private sector, which grows at twice the official rate of increase and is continually expanding. However, the size of the private sector is notoriously difficult to pin down as the private sector is likely underestimated by state officials in calculation of GDP because of its propensity to ignore small entrepreneurs and private enterprises being not registered.

In addition, private entrepreneurs have a propensity to claim to be collectives and under-report the size of their business. The private sector generated approximately 70% of GDP in 2005, a figure that might be even greater considering the Chengbao system, in which entrepreneurs operate assets which nominally belong to the government. The state retains control of some strategic industries.

Numerous sectors such as health care and education that were previously run by the state were privatised during the formation of China's current market economy. The growth of the private sector is indeed phenomenal, as shown by this quote below: }}

The state sector

By 2005 the market-oriented reforms, including privatisation, was virtually halted and partially reversed. In 2006, the Chinese government announced that the armaments, power generation and distribution, oil and petrochemicals, telecommunications, coal, aviation and shipping industries had to remain under "absolute state control" and public ownership by law. The state retains indirect control in directing the non-state economy through the financial system, which lends according to state priorities. Liberalization continues to be rolled back in the state-sector by the consolidation of state enterprises into large "national champions" with the goal of consolidating efforts and creating internationally-competitive national industries. By 2009 the government considered a state insurance scheme to expand healthcare coverage.

The state sector is concentrated in the 'commanding heights' of the economy with a growing private sector engaged primarily in commodity production and light industry. Centralized directive planning based on mandatory output requirements and production quotas has been superseded by the free-market mechanism for most of the economy and directive planning in large state industries. A major difference from the old planned economy is the restructuring of state companies along a commercial basis, with the exception of 150 large state-owned enterprises that remain and report directly to the central government, most having a number of subsidiaries.

These state enterprises have high autonomy in that they can choose their own CEO's, keep their own profits, but differ from the private firms in that they get a bailout if anything goes wrong. By 2008, these state-owned corporations have became increasingly dynamic largely contributing to the increase in revenue for the state. The state-sector led the economic recovery process and increased economic growth in 2009 after the financial crises, due to the fact that most of the Chinese stimulus package was directed towards these state owned firms.

This type of economic system is defended from a Stalinist perspective which states that a socialist planned economy can only be possible after first establishing the necessary comprehensive commodity market economy, letting it fully develop until it exhausts its historical stage and gradually transforms itself into a planned economy (the Stalinist Two-Stage theory of revolution). Proponents of this model distinguish themselves from market socialists, who believe that economic planning is unattainable, undesirable or ineffective at distributing goods, viewing the market as the solution rather than a temporary phase in development of a socialist planned economy.

History

The transition to a socialist market economy began in 1978 when Deng Xiaoping introduced his program of "Socialism with Chinese characteristics". Initial reforms in decollectivising agriculture and allowing private businesses and foreign investment in the late 1970s and early 1980s later led to large-scale radical reforms, consisting of privatisation of the state sector, liberalisation of trade and prices, and dismantling the welfare state in the late 1990s. Since the beginning of Deng Xiaoping's reforms, China's GDP rose from some 150 billion USD to more than 1.6 trillion USD, with an annual increase of 9.4 percent. As of 2004, 50% of the remaining state-owned enterprises have been transformed into joint-stock companies. Recently the Conservative Hu-Wen Administration rolled back many of Deng's reforms, leaving observers dubbing 2008 the "third anniversary of the end of reform.

Controversy

Despite the official stance of socialism, the "socialist market economy" is often described as one hybrid type of both free market and socialism by economic observers. This criticism also comes from orthodox Marxists, who criticise it on the grounds that the socialist market economy restores capitalist commodity relations and production while further dis-empowering the working class, leading to a sharp increase in social inequality and the formation of a growing capitalist class. The political ideology term itself have often been mentioned for scapegoating bearing other issue like currency, energy, fair trade and environment change caused during economic and technology development.

Orthodox Marxists believe a socialist commodity economy is contradictory. Other socialists believe the Chinese have embraced many elements of market capitalism, specifically commodity production, resulting in a capitalist economic system.

While some industries remain under state ownership, its scope has been reduced substantially in recent years due to the privatisation program since the late 1990s. As a result, output of the Chinese economy has increased between 1989 and 2001; the privatisation program continues. While the free-market has largely supplemented central economic planning in the Chinese economy, the Chinese government still guides overall national economic development through "indicative planning".

Proponents of the socialist market economy compare it to the New Economic Policy in Soviet Russia that introduced market-oriented reforms while maintaining state-ownership of the 'commanding heights' of the economy. The reforms are justified through the belief that changing conditions necessitate new strategies for socialist development. According to Li Rongrong in 2003, chairman of the State-Owned Assets Supervision and Administration Commission of the State Council,

See also

Chinese socialism

Criticism of capitalism

Criticisms of socialism

Economy of the People's Republic of China

Mixed economy

Market socialism

Free market capitalism

State capitalism

References

Category:Socialism Category:Economy of the People's Republic of China

de:Sozialistische Marktwirtschaft es:Economía de mercado socialista ja:社会主義市場経済 zh:社会主义市场经济

Coordinates	56°50′″N60°35′″N
Name	Marc Faber
Birth date	February 28, 1946
Alma mater	University of Zurich
Occupation	Investment analyst
Nationality	Switzerland }}

Marc Faber, born February 28, 1946, is an investment analyst and entrepreneur.

Background

Faber was born in Zürich and schooled in Geneva, Switzerland, where he raced for the Swiss National Ski Team. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. degree in Economics magna cum laude. Faber is best known for the ''Gloom Boom & Doom Report'' newsletter and its related web site featuring "Dance of Death" paintings created by Kaspar Meglinger.

During the 1970s Faber worked for White Weld & Company Limited in New York City, Zürich, and Hong Kong. He moved to Hong Kong in 1973. He was a managing director at Drexel Burnham Lambert Ltd Hong Kong from the beginning of 1978 until the firm's collapse in 1990. In 1990, he set up his own business, Marc Faber Limited. Faber now resides in Chiangmai, Thailand, though he keeps a small office in Hong Kong.

Faber has a reputation for being a contrarian investor and has been called "Doctor Doom" for a number of years. He was the subject of a book written by Nury Vittachi in 1998 entitled ''Doctor Doom - Riding the Millennial Storm - Marc Faber's Path to Profit in the Financial Crisis''. Faber has become a frequent speaker in various forums and makes numerous appearances on television around the world including various CNBC and Bloomberg outlets, as well as on internet venues like Jim Puplava's internet radio show. Dr. Faber's also engaged the Barron's Roundtable and the Manhattan Mises Circle, lecturing on "Mirror, Mirror on the Wall, When is the Next AIG to Fall?"

Marc Faber Ltd.

Faber's company, Marc Faber Limited, acts as an investment advisor concentrating on value investments with tremendous upside often based on contrarian investment philosophies. Faber also invests and acts as a fund manager to private wealthy clients. Faber is a regular speaker on the investment circuit, often quoted in the financial press for his non-conformist viewpoint and alternative investment philosophies. His current tag-line is: 'buy a $100 US bond and frame it to teach your children about inflation by watching the US bond value diminish to almost nothing over the next 20 years'

Faber is famous for advising his clients to get out of the stock market one week before the October 1987 crash. However Faber said that this prediction was "accidental".

He lost money shorting US stocks in 1999 although his call was later vindicated. He admits that market timing is very difficult. Nevertheless, his market advice since 2000 is quite accurate. Faber predicted the rise of oil, precious metals, other commodities, emerging markets, and especially China in his book ''Tomorrow's Gold: Asia's Age of Discovery''. He also correctly predicted the slide of the U.S. dollar since 2002 and the 5/06 and 2/07 mini-corrections. He stated that there are few value investments available, except for farmland and real estate in some emerging markets like Russia, Paraguay, and Uruguay. He believed in early 2007 that a major market correction was "imminent." (Fox News, 2-2007); however, by 5/2007 he was saying that U.S. equities were moderately overvalued — less so than those of emerging markets.

In a June 2008 interview with Bloomberg, he goes over his bearish views on a wide spectrum of investments: stocks, real estate and commodities. He is extremely critical of the Fed's inflationary actions. However, his views for the short-run were almost entirely deflationary except for holding precious metals; Faber still views hyperinflation as a certainty within the next 10 years. He also correctly expressed temporary bullishness for the U.S. dollar in the middle of 2008 before it dramatically recovered and positive expectations for holding the Japanese yen. In December 2008, Faber said, "I think a recovery will not come in the next couple of years, maybe in five, ten years' time" On March 9, 2009, Faber correctly predicted a U.S. stock market bottom but incorrectly stated that the rally would last only six months.

Writings

Faber writes the monthly investment newsletter ''The Gloom Boom & Doom Report'' which is subject to charge. He has also authored several books.

Dr. Faber has been a regular contributor to several leading publications around the world in the past, among them ''Forbes'' and ''International Wealth'' which is a sister publication of the ''Financial Times''. He has contributed regularly to several websites such as Financial Intelligence, Asian Bond Portal, Die Welt, Finanzen, Boerse, AME Info, Swiss Radio, Apple Hong Kong and Taiwan, Quamnet, Winners, Wealth and Oriental Daily. He has also written occasionally for the ''International Herald Tribune'', ''Wall Street Journal'', and ''Borsa e Finanza''.

Faber has been long term bearish about the American economy for a number of years and continues to be so. He concluded his June 2008 newsletter with the following mock quote:

"The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part."

Funds

Marc Faber serves as director or advisor of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Leopard Sri Lanka Fund.

References

External links

Marc Faber interview on Bloomberg September 2007 before rate cut decision

Faber's website

Comprehensive Interview w/ Marc Faber (Bloomberg TV)

Bloomberg interview

Financial Sense News Hour Jim Puplava ''Ask the Experts''

Video of a wide ranging discussion of the US Dollar, credit crunch and emerging markets on CNBC Oct. 22, 2007

interview with RTL Z 16-03-2010

Video of a June 2008 Bloomberg News interview critical of Fed chairman and entitled: Marc Faber Says Oil, Stocks, Real Estate Are Overvalued

Dr. Doom: Short Treasuries, Buy Hard Assets — 29 December 2008 interview

The Marc Faber Blog

Marc Faber Newsletters of Note

Investment Hocus Pocus

A Modern History of Investment Booms

Marc Faber blog

Category:Austrian School economists Category:1946 births Category:Drexel Burnham Lambert Category:Living people Category:Swiss businesspeople Category:Hedge fund managers

de:Marc Faber fr:Marc Faber nl:Marc Faber ja:マーク・ファーバー pl:Marc Faber sl:Marc Faber zh:麥嘉華

Coordinates

56°50′″N60°35′″N

{{infobox person | name

Lal Khan | image Lal Khan.jpg | caption Lal Khan addressing 30th Congress of The Struggle | pseudonym | birth_name | birth_date 1956 | birth_place Bhopan, Pakistan | death_date | death_place | occupation Political theorist, activist, writer | nationality Pakistani | period | genre | subject Trotskyism | movement International Marxist Tendency | spouse | alma_mater University of Islamabad | signature | website http://www.marxist.com }}

Lal Khan, M.D., is a political activist and Trotskyist political theorist. He is the leading figure and main theorist in the International Marxist Tendency, alongside Alan Woods. He is a doctor of Medicine, although he no longer practices this profession for the sake of his revolutionary activities. In response to the coup attempt of 2002 in Venezuela, he helped found the Hands Off Venezuela campaign. He is currently the leader of the Pakistani Marxist organization The Struggle, and editor of its newspaper.

Early life

In the 1970s, Khan was a student of medicine in college and a political activist in Pakistan when the military coup of General Zia ul Haq toppled the Pakistan Peoples Party government, and subsequently hanged the country's first democratically elected prime minister Zulfiqar Ali Bhutto. In the aftermath of this event, many PPP workers and activists begun a struggle against General Zia's regime. As a consequence, many of them faced arrests, persecution, torture, and exile. Khan was arrested in 1980 on the charges of leading a student wing which was involved in organizing mass rallies against General Zia's government. He was sentenced to one year in prison, fifteen lashes, and a 20,000 rupee fine. He was imprisoned for a year, then went to university in the capital of Pakistan, Islamabad.

He was in the university for four months, and then, due to his involvement in anti-government political activities and the struggle for the overthrow of the Zia's dictatorship, he was sentenced to death, to be shot on sight. As a result of this, he was forced to leave Pakistan, moving to live in exile in 1980 in the Netherlands. During his time in exile, he graduated from the Vrije Universiteit in Amsterdam, and continued to reside in the Netherlands for eight more years. In his years of exile, he became acquainted with the works of Alan Woods, a Trotskyist political theorist in the British Labour Party. In the 1988, he returned to his country and quit his profession as a doctor, and has been working full time in revolutionary politics ever since.

Woods and Khan lead the International Marxist Tendency (IMT), an organization for the promotion of socialist and Marxist ideas. In recent years Lal Khan has received media attention for some of his work.

Work for The Struggle

The International Marxist Tendency (IMT) is an international Trotskyist organization which is based on the ideas of Marx, Engels, Lenin, and Trotsky.

The late Ted Grant was its chief theoretician and the person who built the organization. Currently, Alan Woods along with Lal Khan are its main leaders and theoreticians. The Pakistani section, The Struggle, is the largest section of the International Marxist Tendency. Lal Khan heads The Struggle in Pakistan and organizes many activities under the banner of the organization.

The Struggle advocates a socialist transformation of Pakistan. It demands the nationalization of the commanding heights of the economy under workers control, an end to religious extremism and radicalism, the eradication of unemployment and free accessible education for all Pakistani citizens. On 1 April 2009, the annual congress of The Struggle was held in Iqbal Hall in central Lahore. These annual congresses are held to analyse the performance of the International Marxist Tendency and to formulate new strategies for social change and revolution.

Books written by Lal Khan

Khan is the author of several books:

''Partition - Can it be undone?'' This book examines the historical background of partition of the Indian subcontinent, and the formation of Pakistan and India.

''Lebanon-Israel War''. Written in 2009, this book discusses not only the current conflict between Lebanon and Israel in detail, but also looks at the history of wars and revolutions in the whole region. The changing role of Iran in the region and the possibility of an invasion of Iran are also discussed in detail.

''Pakistan’s Other Story - The Revolution of 1968-69''. This book examines the student and political activism of the late 1960s which gave birth to a revolution. Khan argues that due to lack of leadership courage, the opportunity to establish a worker's state was lost.

''Kashmir, A revolutionary way out''. This book examines the possibility of the liberation of Kashmir under a united South Asian socialist federation.

See also

Marxism

Trotskyism

International Marxist Tendency

The Struggle

Ted Grant

Alan Woods

References

External links

Website of The Struggle

Older website of The Struggle

Website of the IMT

Website of Youth for International Socialism

Website of Pakistan Trade Union Defence Campaign

Category:Living people Category:Pakistani political theorists Category:Pakistani revolutionaries Category:Pakistani Marxists Category:Pakistani Trotskyists Category:Pakistani people Category:Pakistani expatriates in the Netherlands Category:International Marxist Tendency Category:Quaid-i-Azam University alumni Category:1956 births

fr:Lal Khan

Coordinates	56°50′″N60°35′″N
name	Rizwan Khan
birth date
birth place	Aden, South Yemen
education	University of Wales Medical Physiology (B.Sc.) University of Portsmouth Radio Journalism (B.A.)
occupation	Reporter and Anchor at Al Jazeera
years active
website	}}

Rizwan "Riz" Khan (born April 1962) is a British television news reporter and interviewer who until April 2011 hosted his own eponymous television show on Al Jazeera English. He first rose to prominence while working for the BBC and CNN.

Life and career

Khan was born in Aden, South Yemen, to a Punjabi father and Gujarati mother. His father's roots hail from Pakistan-administered Kashmir while his mother's roots go back to Kutch, Gujarat. He considers himself as a British Pakistani. Khan moved with his family to London, at the age of four. He attended both Springwell Junior and Hounslow Manor Comprehensive Schools and joined the Air Training Corps, and graduated with a Bachelor of Science with Honours in Medical Physiology from the University of Wales, and then completed a postgraduate course in Radio Journalism at the University of Portsmouth.

In 1987 he was selected for the BBC News Trainee scheme - a two-year BBC training system, usually taking only 6 people per course. Khan progressed to jobs as a BBC reporter, producer, and writer, working in both television and radio, and would later become one of the founding News Presenters on BBC World Service Television News. He hosted the news bulletin that launched BBC World Service Television News in 1991. In 1993, he moved to CNN International, where he became a senior anchor for the network's global news shows. Events he covered included the 1996 and 1999 coverage of elections in India; the 1997 historic election in Britain; and in April 1998 the unprecedented live coverage from the Muslim pilgrimage, the Hajj.

In 1996 he launched his interactive interview show ''CNN: Q&A; with Riz Khan'', and he has conducted interviews with guests including former UN Secretary General Kofi Annan, former US Presidents Jimmy Carter and Bill Clinton, the Dalai Lama and Nelson Mandela, and genomic scientist J. Craig Venter. Khan also secured the world exclusive with Pakistan's General Pervez Musharraf following his coup in October 1999. Khan also hosted ''Q&A-Asia; with Riz Khan''. These interactive shows put world newsmakers and celebrities up for viewer questions live by phone, e-mail, video-mail and fax, along with questions and comments taken from the real-time chatroom that opens half-an-hour before each show.

Khan hosted his show, ''Riz Khan'', on Al Jazeera English, interviewing analysts and policy makers and allows viewers to interact with them via phone, email, SMS messages or fax. The show came to an end in April 2011.

Khan speaks Urdu and Hindi and also understands other South Asian languages such as Punjabi and Kutchi. He has studied French, and can understand some other European languages, including Swedish.

In 2005 he authored his first book, ''Al-Waleed: Businessman Billionaire Prince'', published by Harper Collins.

In 2011 he authored a preface for the Committee to Protect Journalists (CPJ) annual report "Attacks on the Press 2010", which examined working conditions for journalists in more than 100 countries.

References

"Why I'm Joining Al Jazeera", op-ed by Riz Khan, ''The Wall Street Journal'', 13 June 2005, p. A1

"Q&A; CNN Anchor: Riz Khan". ''India Today''. February 19, 2001.

External links

Riz Khan's official website

Profile at Al Jazeera English

MySpace Profile

Interview with Baron Dave Romm of KFAI-FM at the Republican National Convention Sept. 2, 2008 and picture

Category:1962 births Category:Al Jazeera people Category:Alumni of Cardiff University Category:Alumni of the University of Portsmouth Category:British Muslims Category:British people of Indian descent Category:English people of Pakistani descent Category:British journalists Category:British television presenters Category:Living people Category:Punjabi people Category:Gujarati people Category:People from Aden

ar:ريز خان he:ריז ח'אן sw:Riz Khan no:Riz Khan