Deng Xiaoping initiated a new economic policy that was to have dramatic economic and
social effects. Turning his back on Mao Zedong egalitarianism (pingjun zhuyi), Deng
claimed “poverty is not socialism. Socialism means eliminating poverty.” From then on,
people would be allowed to pursue material wealth and endeavor to improve their well-
being, even if that meant that some might become richer than others. The new slogan was …